New OXREP paper just out. Structural change—clean energy, AI, biotech—creates new resources, industries and behaviours rather than just reallocating old ones. We call this “creation economics”. Change is dynamic and non-linear, so models should map plausible pathways, not forecast with certainty.

"The roughly £22bn, or 20%, uplift in real-terms annual capital expenditure, relative to 2024-25, could crowd in private investment and boost productivity across a range of important sectors. However, it is a relatively small amount compared to the UK's total capital gap of £2 trillion.”

Increased capital expenditure in the #SpendingReview is welcome, but there's still a long way to go in reducing the UK's £2tn capital gap, says @teraallas.bsky.social. Read striking new analysis by Tera & @dimitrizz.bsky.social about the UK's capital shortfall: www.productivity.ac.uk/news/mind-th...

The effects of low-carbon transitions on labour productivity: analysing UK electricity, heat, and mobility with a techno-economic simulation model - The Productivity Institute The green transition will boost productivity across the UK economy.

Smart climate policy is smart economic policy. New research shows clean energy cuts costs and boosts productivity, but savings must reach consumers.
📄 www.productivity.ac.uk/research/the...

@dimitrizz.bsky.social @alliancembs.bsky.social

#ClimatePolicy #GreenEconomy #Productivity

Reeves' straitjacket: Why Britain’s spending problem is political, not economic Public spending should not be held hostage to the OBR’s latest spreadsheet projections, as if the future of school funding hangs on whether GDP is revised up by 0.1 per cent. Our leaders should acknow...

We need to talk about tax. My commentary on Reeves’s fiscal policy in today’s CityAM.

www.cityam.com/reeves-strai...

Important intervention by the Oxford Smith School to secure a rational, forward-looking and competitive investment, resilience and economic transition plan for the UK. It's a race we can't afford to lose. Proud to be a signatory. www.smithschool.ox.ac.uk/sites/defaul...

YouTube video by The Bennett Institute for Public Policy Andrew Neil talks to Dimitri Zenghelis on green growth

Andrew Neil interviews me on net zero. After covering green jobs, the discussion ranged from UK investment & export opportunities, China and the global bond market. A ‘sceptic’ in the past, Neil concedes that we are not going back to fossil fuels.
www.youtube.com/watch?v=dqUN...

As a co-signatory of this letter to the @financialtimes.com, @dimitrizz.bsky.social says “the last 15 years have taught us that the UK cannot cut its way to growth”.
archive.ph/5v9xT

Important 'first of a kind paper', using comparative capital stock data, laying bare the UK's massive investment challenge.

No paywall. Free, but you need an email and password like most media streaming services.

The Times at One with Andrew Neil | Times Radio | The Times and the Sunday Times Listen to Times Radio live for the latest breaking news, expert analysis and well-informed discussion covering the biggest stories of the day.

15 minute interview w. Andrew Neil ‘Times at One’. He asked good questions, once we moved off his fixation with a narrow definition of green jobs. I got him to accept that we are not going back to fossil fuels! 19':20'' And a free tutorial on bond markets.
www.thetimes.com/radio/show/2...

“the last 15 years have taught us that the UK cannot cut its way to growth”. @bennettinstitute.bsky.social @granthamlse.bsky.social

YouTube video by MMF Society MMF Policy Conference 2021 - Talk by Mark Carney

Congratulations to Mark Carney on becoming Canada’s new PM. Here’s our discussion from a few years back when, as Governor of the Bank or England, Mark was spearheading new institutional arrangements to transition the world economy www.youtube.com/watch?v=p4Yc... @granthamlse.bsky.social

YouTube video by MMF Society MMF Policy Conference 2021 - Talk by Mark Carney

Congratulations to Mark Carney on becoming Canada’s new PM. Here’s our discussion from a few years back when, as Governor of the Bank or England, Mark was spearheading new institutional arrangements to transition the world economy www.youtube.com/watch?v=p4Yc... @bennettinstitute.bsky.social

What does Trump really mean for the world economic outlook and how are risks and opportunities changing? Be prepared. It’s all here. independent-economics.com/wp-content/u... @bennettinstitute.bsky.social @granthamlse.bsky.social @cisl.cam.ac.uk

Unleashing growth in the UK: time to break the fiscal chains - Grantham Research Institute on climate change and the environment Dimitri Zenghelis outlines what a smarter fiscal strategy for Britain would look like – one that eschews austerity and champions investment in intelligent, sustainable and resilient growth.

Austerity is bad investment. The UK is not a public debt/deficit outlier, it’s stagflation outlier. Government must invest now in growth. Cutting our way out of debt will only entrench stagnation and failure. www.lse.ac.uk/granthaminst... @bennettinstitute.bsky.social @granthamlse.bsky.social

It did respond to my feedback:

Chat GPT designs a flyer for speaking and coaching. Not sure it highlighted my strongest attributes.

New govt has taken on some recommends from our report 1 yr ago, eg amending fiscal rules. But not others: it taxed business and saving rather than consumption. We warned this wd crowd out private investment & undermine productivity growth. @granthamlse.bsky.social cep.lse.ac.uk/_new/publica...

Reeves's economic policy continues to struggle into 2025. Before xmas, I wrote about how, unless it slays its election taboos and raises VAT to allow rates to fall & investment to rise, it risks being a 1-term wonder. @bennettinstitute.bsky.social @granthamlse.bsky.social @cisl.cam.ac.uk