Labour cuts £28bn green investment pledge by half 

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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