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George Monbiot takes aside the Institute of Financial Affairs over their funding

The Institute of Financial Affairs, which has lengthy been accused of a scarcity of transparency over its funding, was taken aside on BBC Politics Reside by environmental campaigner and journalist George Monbiot.

Monbiot was engaged in a heated debate with the IEA’s Reem Ibrahim on financial development and total well-being. He criticised the federal government’s method to development which confirmed no regard for the setting and mentioned that Gross Home Product (GDP) shouldn’t be synonymous with “precise human well-being”.

Many have highlighted through the years how GDP doesn’t seize a full image of a rustic’s financial state or well-being because it misses out ‘unhealthy’ components equivalent to air pollution, and nor does it let you know how assets are distributed within the financial system, that means you possibly can have excessive ranges of inequality and deprivation in addition to sturdy GDP.

Ibrahim asserted that development is a ‘very constructive factor’ and mentioned: “In the end, if we’re actively implementing insurance policies that aren’t going to be supporting the best way during which the financial system is rising, we’ve received to cease speaking about development in that means.”

Monbiot replied: “In fact you wish to rip down laws, after all you don’t care concerning the pure world since you’re from the IEA which is funded by oligarchs & companies… The IEA refuses to disclose who funds it”.

Final yr, transparency campaigners referred to as for thinktanks to be extra open about their funding sources, after it emerged that a few of Britain’s most influential ones obtained greater than $1m (£787,000) from donations within the US in 2021, amongst which was the IEA, which was behind lots of the insurance policies adopted by the Liz Truss authorities.

Basit Mahmood is editor of Left Foot Ahead

The put up George Monbiot takes apart the Institute of Economic Affairs over their funding appeared first on Left Foot Forward: Leading the UK's progressive debate.