UK needs Dragons' Den approach to investing in net zero, says thinktank

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The UK risks losing out to the US and EU in the global race to a net zero economy unless the government increases green investment by taking a stake in the companies of the future, a thinktank has said.

Article originally published by The Guardian. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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23 Aug 2023

The left-leaning Institute for Public Policy Research said Britain needed a “national investment fund” (NIF) that would back new firms and secure a share of any future profits for the public as it called for the state to adopt a “Dragons’ Den” type approach to supporting enterprises.

The IPPR said the UK needed its own version of Joe Biden’s Inflation Reduction Act – which offers US federal government subsidies to support clean energy, infrastructure and green jobs – and the EU’s proposed green deal industrial plan.

Simone Gasperin, an associate fellow at the IPPR, said: “The national investment fund is a policy proposal for our time. The UK needs to finance and coordinate strategic industrial policy projects that will deliver a net zero transition through economic prosperity and inclusion.

“The cost of inaction on people’s livelihoods will be