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Labour cuts £28bn green investment pledge by half 


Labour Party leader Keir Starmer and Shadow Chancellor Rachel Reeves jointly announced last week that they would cut the green prosperity plan from £28bn a year to under £15bn – only a third of which would be new money.

Under the revised plans, Starmer and Reeves intend to invest £6.6bn over the parliament – an average of £1.3bn a year.  

The Labour leader blamed the Conservative government for "crashing" the economy, arguing that standing by Labour’s 2021 pledge was now "irresponsible" given the weakened state of the economy.  

However, Labour insists it remains committed to decarbonising the energy grid and becoming a clean superpower by 2030, as part of its Green Prosperity Plan.  

This plan includes establishing GB Energy, a 'British Jobs Bonus' to provide capital grants to incentivise companies developing clean technologies to invest in regional areas; and reforming the planning system to accelerate energy projects.  

Published On: 15/02/2024 14:00:00

 

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In brief

Peel Ports convenes retail industry leaders as demand grows for greener UK port of entry strategy

The call comes as 90% of deep-sea containerised cargo enters the UK via southern ports, despite 60% of these goods being destined for the north. 

This creates the need for long journeys on UK roads to get retail cargo to its end destination, generating significant greenhouse gas emissions and causing major delays. 

Experts will convene at a webinar hosted by the British Retail Consortium (BRC) to create a roadmap on how the industry can work together to optimise UK ports of entry for a greener, more efficient and robust retail supply chain. 

To register for the webinar click here

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