The UK’s last coal plant has officially closed, marking the beginning of the end of fossil fuels. Its closure foreshadows the dawning of a new industrial era for which the country is devastatingly ill-prepared.
Over the past 30 years, its manufacturing sector has declined by more than a third, and its share of global exports of ‘green’ products has halved since the 1990s. Its core industries are less diverse and less technologically advanced, leading to situations like that of Port Talbot Steelworks – where an entire community has been devastated by its reliance on carbon-intensive jobs that are no longer viable.
Meanwhile, China’s cheap prices have largely taken over the market for green manufacturing. The US is ploughing ahead with its persuasive incentive packages, providing a particularly enticing environment for new business ventures, and the few exporters of critical minerals are shopping around for the best deal.
No wonder many of the UK’s clean technology companies are upping and leaving for the US, lured by its lucrative policy landscape of rich pickings and rebates.
If…
