Keir Starmer defends Labour U-turn on £28bn green spending
Sir Keir Starmer has defended his decision to abandon Labour’s £28 billion per year green investment commitment, saying that economic circumstances necessitated the change due to the Conservatives’ impact on the economy.
Speaking to the BBC, Starmer emphasised that despite the U-turn, Labour remains dedicated to outspending the Tories on green initiatives if elected and is steadfast in achieving “clean power by 2030.”
However, Prime Minister Rishi Sunak criticised Starmer, stating that the Labour leader “has confirmed he doesn’t have a plan for Britain.”
Labour’s decision marks a significant reduction in its proposed investment in green industries, amounting to approximately £4.7 billion annually. This shift comes amidst increasing scrutiny and attacks from the Tories in the lead-up to the election, with Sunak suggesting that the necessary borrowing would result in tax hikes.
While Starmer affirmed that existing green initiatives, such as funding for battery factories and sustainable steel production, will remain intact, support for home insulation projects will be curtailed. Moreover, the investment package will now be partially funded through taxes on energy companies’ profits, rather than relying solely on increased government borrowing.
