Labour warned that a ‘misallocation’ of capital could lead to damaging growth, after Labour laid out its net-zero plan to create a state-owned energy company.
A think tank has branded Labour’s pledge to spend £28 billion a year on green policies as “fantasy” plans, while comments from the shadow chancellor have caused confusion over the exact timeline of the pledge.
Labour’s original “climate investment pledge,” announced by shadow chancellor Rachel Reeves during Labour’s autumn conference, claimed that Labour would oversee investment of £28 billion on green proposals each year, every year until 2030.
However, she claimed during an interview with the BBC last weekend that it may take until the “second half of the first Parliament,” to reach the goal of spending £28 billion.
On “PoliticsLive” on Tuesday, shadow health minister Preet Gill caused further confusion by implying that Labour would only ramp up to the proposed levels of spending by their “second term” in power. Labour then clarified on Wednesday that the official policy is still to get to the £28 billion figure by the second half of the first term.
Labour ‘Required to Make Hard Choices’
Andy Mayer,…
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