Could the “jinxed generation”  and pensions be saved? In the Financial Times today, Caroline Lucas, MP for Brighton Pavilion, refers to the large-scale local authority programme under way in Birmingham, citing research by the Green New Deal group. This shows that additional investment of £20bn to instal solar PV on the 3m best-suited roofs could create 140,000 jobs, with households saving up to £250 a year in reduced electricity bills. Note also the Localise West Midlands report  on this subject.

Such programmes, she advises, would offer employment and a career path for many of the more than 1m unemployed under the age of 25 and the tax revenues generated could help reduce the budget deficit. 

The MP advocated 50-year index-linked bonds, with funds invested in essential sustainable infrastructure to help finance the government’s “Green Deal”energy-saving programme covering 14m homes, which could support at least 65,000 jobs in insulation and construction by 2015:

“In one imaginative and fiscally responsible measure, the government could provide pensioners with a safe refuge for their pensions, and the young with thousands of jobs.”

To see the “jinxed generation” article and graph free registration will be needed or go to Google images. Note that it refers to incomes – not unemployment levels.