Think-Tanks'Press

Unlike the US president, the European Commission acknowledges this development and has introduced a new platform intended to help the “Coal Regions in Transition” manage these changes, adjust to the new life beyond coal and in general smoothen the process of transition as much as possible.

Extra funding has been allocated to this initiative on top of the usual cohesion funds the EU uses for the developments of its poorer regions.

It is important, however, to ensure that this initiative truly serves to prepare Europe for the post-coal era and does not play in the hands of the coal industry by supporting the so-called “clean” coal technologies, which has not been proven to work.

> Whereas 20 years ago the house price to earnings ratio in London was about 4:1, it has now reached 10:1, and the mean rent-to-income ratio has climbed from 1:5 to 1:3 in the last 15 years. This situation implies that resources keep flowing to land owners and homeowners.

> By far the larger part of house price increases in recent decades is attributable to the increase in land prices. Fifty years ago, total UK land values amounted to around 50% of GDP, now they amount to 200% of GDP.

> Sadiq Khan seems intent on ramping up ‘affordable housing’.He wants to see housing rationed according to political prerogatives, up to 50% of all new housing provision, which thereby makes the remainder (which has to cover the subsidies) all the more unaffordable. No wonder that the income eligibility threshold is ramped up continuously also. So-called ‘affordable housing’ creates a vicious interventionist spiral.