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Bank of England's Bailey: Net Zero Hurts Economic Growth

1/16/2026

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Summary

Story summary

Andrew Bailey, the Governor of the Bank of England, says net zero policies hinder global economic growth.
In a recent speech, he identified climate change and the initiatives to address it as factors affecting economic performance.
Britain’s push for net zero has led to high energy prices and the decline of heavy industry due to transition costs and levies.

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Story summary

Andrew Bailey, the Governor of the Bank of England, says net zero policies hinder global economic growth.
In a recent speech, he identified climate change and the initiatives to address it as factors affecting economic performance.
Britain’s push for net zero has led to high energy prices and the decline of heavy industry due to transition costs and levies.