With Keir Starmer's new cabinet, the transition to a “green” carbon-free British economy will be more than problematic. It is an expensive project requiring long-term investment. Labor has already claimed a £22 billion “black hole” in the public finances from the previous Conservative government.

So far, investments in decarbonization have been attractive to investors in the case of government support, as was the case, for example, with the project to switch the British steel industry to electric arc furnaces (EAF). Decarbonization has a downside - entire industries will disappear in a short time and the UK will be one of the few leading economies unable (for example) to produce steel from scratch.

Investors need predictability and a clear answer: what kind of economy the government wants to build. Is it a new “Global Britain” based on innovation, trade and cooperation with the countries of former “Pax Britannica” or closer ties with the EU will be restored. The latter would make sense even in terms of economic geography.