Macroeconomics: UK economy, IB Economics

Another interesting facet of yesterday's Budget was an alteration to the remit of the Bank of England with the Chancellor making it explicit that as well as guaranteeing price stability, the Monetary Policy Committee is being instructed to support the commitment to net zero carbon. 

I don't think that it's going to have much in the way of an immediate impact on the conduct of monetary policy, but, symbolically, it's a significant step. 

It's clean, relatively-speaking, and will help the UK generate large amounts of carbon-free energy, and help meet predicted demand for electricity. 

However, the announcement that the government has decided to build another nuclear plant at Sizewell in Suffolk, hasn't met with universal approval, not least because of the cost, and the troubles with other nuclear projects.