One of the UK's highest-profile businessmen has declared the litmus test of the government elected on July 4 will be a green and clean technology strategy that makes up for lost growth years.
John Caudwell, a telecoms tycoon turned property developer, commissioned the Council on Geostrategy think tank to produce a report on the Road to Net Zero targets that found the UK had dropped off track.
The Caudwell Strong Britain report said the opportunities afforded by net zero were being lost by a lack of government vision paired with unfocused investment strategies and an “unattractive environment for skills and talent”.
While Mr Caudwell recognises that some of the UK's failures in this regard are starting to be addressed, such as investment in research and development, the UK risks falling further behind the US, Europe and China.
“It’s no good saying ‘the Tories have done a dreadful job, so we’ve really got to support Labour',” he told The National.
“We’ve only got to support Labour if they’re going to do a better job and they’re only going to do a better job if they have the right policies."
Running an economy should be the same as running a business. It's all to do with income, costs and bottom-line profits, but with a general election in the UK looming, Mr Caudwell has little faith in any of the politicians seeking high office after July 4.
“Our country has done a disastrous job of growing GDP,” he told The National.
“It’s done a disastrous job of investing in technology and infrastructure and, therefore, we’re in the doldrums – we’ve got very little GDP growth.”
Mr Caudwell, who with a $3.3 billion fortune makes it into the Forbes list of the world's 1,000 richest billionaires, used to donate to the ruling Conservative party but became disillusioned with the government's lack of action.
The founder of the UK mobile phone retailer Phones4u also believes British politicians continue to see net zero as a costly chore rather than an opportunity to fundamentally swing the economy into a mode that creates jobs and improves incomes.
Born in Birmingham, in the UK's Midlands, and raised in Stoke-on Trent, Mr Caudwell is a self-made billionaire who spotted the potential of mobile communications technology in the 1980s. When he sold the Caudwell Group for £1.46 billion ($1.87 billion) 20 years later, the 600 UK Phones4u stores were selling 26 mobile phones every minute.
His property company is currently developing a site in London's Mayfair it values at £2 billion.
Experts predict the project will help seal the central London neighbourhood’s reputation as the world’s most expensive address.
1 Mayfair, which is being built on the site of a former car park and hotel, is scheduled for completion in late 2025. It is on the doorstep of Park Lane and Hyde Park, close to Mount Street and will feature 24 main apartments, with five further studios and staff suites.
Well known for his philanthropy, Mr Caudwell is a signatory of the Giving Pledge, the charity founded by Warren Buffett, Melinda French Gates and Bill Gates through which the global wealthy donate much of their earnings and estates to needy causes. Mr Caudwell has pledged to give away 70 per cent of his wealth during and after his life.
His growing frustration at the current Conservative government has been inversely proportional to what he sees as its continual “watering down” of net-zero commitments, while at the same time he watched the opposition Labour Party cut back on its pledge to invest £28 billon each year into green projects until 2030.
“I’m extremely frustrated about the lack of initiative, the lack of ability, the lack of commercialism, and we’ve made a dog’s ear of this country over the last 15 years,” Mr Caudwell said.
“I’m more in favour of giving special [tax] treatment to businesses that will bring high technological and scientific products to the UK, especially at the forefront of the environment. They should be encouraged to come to the UK, because that’s where the export is going to be in the future.
“We ought to be the Silicon Valley for the environment and we’re not.
'Haven't got a clue'
“If they don’t employ some of the policies that I’m recommending to them, they won’t do a good job,” he added. “They’ll do a dreadful job and they’ll make some big mistakes.”
One of Mr Caudwell's recommended policies surrounds the creation of an independent panel to assess a company's green credentials and viability, as well as its ability to create and grow higher-paid jobs before granting, through the government, a UK tax holiday to such start-ups or new market entrants.
“I was telling Boris [Johnson] this at the start of the pandemic,” Mr Caudwell recalled.
“What have the Conservative party done? Nothing. I kept telling him what he needed to do. I told Rishi [Sunak]. And now I’ve told Keir [Starmer]. What will they do?”
As far as the general election on July 4 goes, Mr Caudwell describes himself as “a bit lost” when it comes to which party will get his vote.
“All the time [politicians] are focusing on votes in the next election,” he told The National.
“They rarely seem to do the right thing for the country and they certainly have not got a clue how to grow GDP. They just haven’t got a clue.”
UK general election campaigning – in pictures
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Conservative leader Rishi Sunak speaks at party campaign event at the National Army Museum in London on Wednesday, July 3. AP Photo -
Labour Party leader Keir Starmer addresses supporters during a visit to the West Regwm Farm events venue in Whitland, Carmarthenshire, Wales, on the final day of election campaigning. PA -
Liberal Democrats leader Ed Davey drives a tractor during a visit to Owl Lodge in Lacock, Wiltshire. PA -
Satirical political character Count Binface in London before challenging Conservative leader RishiSunak for the parliamentary seat of Richmond and Northallerton. Reuters -
Boris Johnson, former UK prime minister, campaigns for the Conservatives in London. Bloomberg -
Nigel Farage, leader of the far-right Reform UK Party, with heavyweight boxer Derek Chisora during a campaign visit to Clacton-on-Sea in eastern England. Reuters -
Mr Sunak holds a speech during his visit to Well Healthcare Supplies as he campaigns in Stoke. Getty Images -
Mr Starmer laughs as he speaks to supporters near Milton Keynes. AP -
Mr Davey bungee jumps during a visit to Eastbourne Borough Football Club in East Sussex. AP -
Mr Sunak bowls during his visit to Nuneaton Cricket Club. AFP -
Mr Starmer addresses an audience of Labour Party members and supporters during a rally at the Royal Horticultural Halls in central London. AP -
Mr Davey rides a towable inflatable during a visit to Lakeside Ski & Wake, in the Cotswolds. Reuters -
Mr Sunak and his wife Akshata Murty visit the BAPS Shri Swaminarayan Mandir in London. AFP -
Mr Starmer during a visit to the Shree Swaminarayan Mandir Hindu temple in Kingsbury, London. PA -
Mr Davey participates in a Zumba class with supporters in Wokingham. Reuters -
Mr Starmer speaking during a visit to Northampton Town Football Club at Sixfields Stadium. PA -
Mr Sunak delivers a speech in central London. AFP -
Mr Davey jet-washes an ambulance in London. Getty Images -
Mr Starmer rests his hand on the shoulder of Idris Elba as they meet families of knife crime victims, in west London. PA -
Mr Sunak turns on the power in the training centre control room during a tour of the Sizewell B nuclear power plant. AFP -
Mr Davey plays a game of Frisbee on a visit to a farm in Hampshire. AP -
Mr Starmer and shadow chancellor Rachel Reeves visit a supermarket in Swindon. PA -
Mr Sunak speaks to journalists on the campaign bus following the launch of the Welsh Conservatives General Election manifesto near Rhyl. Reuters -
Mr Davey taking part in wheelbarrow racing at Huish Park, home of Yeovil Town football club in Somerset. PA -
Mr Farage speaks to the press in Clacton-on-Sea. Bloomberg -
Mr Starmer speaks at the launch of the Labour party's 2024 general election manifesto in Manchester. AP -
Mr Sunak answers questions from the audience in Grimsby. Getty Images -
Mr Davey toasts a marshmallow as he visits Willow Forest School in Surrey. EPA -
Mr Farage attends the launch of the Reform UK manifesto in Merthyr Tydfil, Wales. Reuters -
Scottish Labour leader Anas Sarwar launches Scottish Labour’s battle bus campaign on June 17 in South Queensferry, Scotland. Getty Images -
Britain's Labour Party politician and Shadow Secretary of State for Health and Social Care Wes Streeting speaks to a television crew outside the BBC in London. AFP -
Leader of the Liberal Democrats, Sir Ed Davey, on the BBC 1 current affairs programme, Sunday, with Laura Kuenssberg. BBC -
Mr Sunak meets pupils in a maths class during a visit to the John Whitgift Academy, in Grimsby. AP -
Mr Starmer during a visit to Grimsby Institute, a technical training college in Grimsby. PA -
Mr Davey during a general election campaign visit to the Aqua Jungle Spot in Stratford-upon-Avon. Bloomberg -
Mr Sunak and Akshata Murty take centre stage at the Conservative Party's general election manifesto launch in Towcester. Getty Images -
Mr Starmer passes a toothbrush to a child during his visits to the Whale Hill Primary School in Middlesbrough. AP -
Mr Davey meets Steve Darling, Liberal Democrat candidate for Torbay and his guide dog Jennie at Torquay Harbour. Getty Images -
Reform UK leader Nigel Farage reacts after something is thrown towards him on the campaign bus in Cawthorne, Barnsley. AP -
Mr Sunak attends a neighbourhood watch meeting in Horsham, West Sussex. PA -
Mr Starmer helps volunteers pot plants during a visit to Harlesden Town Garden in north-west London. PA -
Mr Davey on the 'Rush' ride during a Liberal Democrats general election campaign event at Thorpe Park. Reuters -
Mr Sunak, during a visit to Imagination Childcare, in Swindon, Wiltshire, while on the election campaign trail. PA -
Mr Starmer visits Brent Cross town's visitor pavilion for a housing launch in London. Getty Images -
Mr Davey grills burgers in a garden, during campaigning in Wiltshire. PA -
Mr Sunak during a visit to Leander Club, in Henley-on-Thames, as a boat carrying Liberal Democrat supporters passes behind him. Reuters -
Mr Starmer meets pensioners to talk about the impact of the energy crisis and the cost of living, in a cafe in Bolton. PA -
Mr Sunak and Mr Starmer lock horns the first televised general election debate of the campaign, at MediaCity in Salford. PA -
Mr Davey plays Jenga using symbolic 'blue wall' blocks in Stockport. EPA -
Former Labour leader Jeremy Corbyn poses outside Islington Town Hall, north London, after handing in his nomination papers for the general election, taking place on July 4. PA -
Mr Farage has a milkshake hurled at him during a campaign event in Clacton-on-Sea. EPA -
Mr Sunak launches the Conservative Party's campaign bus at Redcar Racecourse in north-east England. PA -
Labour launch their election campaign bus, with Mr Starmer, his deputy Angela Rayner and Rachel Reeves, shadow chancellor, in Uxbridge. Getty Images -
Mr Davey holds a balloon with a figure that represents the amount of votes the Liberal Democrat party lost by in Wimbledon. PA -
Mr Sunak feeds lambs as he visits Rowlinson's Farm during a Conservative general election campaign event in Gawsworth. Reuters -
Scottish Labour leader Anas Sarwar, Mr Starmer, shadow secretary of state for energy security and net zero Ed Miliband and local candidate Martin McCluskey in Greenock. PA -
Mr Sunak holds a question and answer session during a visit to Niftylift in Milton Keynes. EPA -
Mr Starmer serves ice cream to day trippers on Barry seafront in South Wales. PA -
Mr Davey takes part in a baking lesson with pupils from High Beeches Primary School during a half-term holiday camp in Hertfordshire. PA -
Mr Sunak speaks with a cafe worker as he picks up breakfast for the media at a cafe in Cornwall. PA -
Mr Starmer speaks at the launch of Labour's six steps for change in Wales at the Priory Centre in Abergavenny. PA -
Mr Davey and Anna Sabine, parliamentary candidate for Frome and East Somerset, ride the Ultimate Slip 'n' Slide at Eastcote Farm in Beckington. Bloomberg -
Scottish National Party Leader John Swinney speaks during a visit to The Dower House Cafe in Edinburgh. AP -
Rishi Sunak examines Jackal armoured vehicles during his visit to defence vehicle manufacturer Supacat in Exeter. PA -
Keir Starmer with a baby at Worcester City Football Club. PA -
Ed Davey rides a bike during a visit to Knighton, Wales. PA -
Nigel Farage at the cliffs in Dover after speaking at a Reform UK event. Getty Images -
Akshata Murty, wife of Mr Sunak, meets with residents during a visit to a Royal British Legion care home in Ripon. Getty Images -
Keir Starmer and shadow chancellor Rachel Reeves during a visit to Rolls Royce’s educational training complex in Derby. PA -
Ed Davey falls into the water while paddle boarding on Lake Windermere. PA -
Rishi Sunak campaigning in Amersham, Buckinghamshire. EPA -
Mr Starmer addresses party members and media in Lancing Parish Hall, West Sussex. Getty Images -
Mr Davey launches his party's general election campaign battle bus in Cambridge. PA -
Mr Sunak on the ball during a visit to Chesham United Football Club. PA -
Mr Starmer speaks to party supporters after making his first keynote speech of the campaign in Lancing. PA -
Mr Davey join supporters for a dog walk near Winchester. PA -
Mr Sunak visits a maritime technology centre in Belfast, Northern Ireland, as he campaigns for the general election on July 4. Reuters -
Mr Starmer and his Scottish counterpart, Anas Sarwar, greet supporters at the launch of the Scottish Labour general election campaign at Caledonia House in Glasgow. Getty Images -
Mr Davey, right, eats ice cream with his party's local candidate, Josh Babarinde, on the promenade in Eastbourne. PA -
Mr Sunak arrives at Inverness Airport, in Scotland, on the general election campaign trail. PA -
Mr Starmer during a visit to Gillingham Football Club in Kent. PA -
Mr Sunak speaks with members of staff at the Global Energy Group facility at the Port of Nigg in north-east Scotland. AFP -
Mr Davey during a visit to the town centre in Cheltenham. PA -
Richard Tice, the leader of Reform UK, attends an election campaign launch in London. AP -
Mr Sunak holds a Q&A with staff of a West Transport distribution centre in Ilkeston in the East Midlands. AP -
Labour's deputy leader Angela Rayner and Mr Starmer arrive at Gillingham FC. Getty Images -
Mr Sunak takes questions from workers at West Transport. Getty Images -
Mr Starmer holds a piece of campaign branding at Gillingham. PA -
Mr Sunak poses for a selfie in Ilkeston. AFP
