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Labour ‘unlikely’ to ever meet ￡28bn a year green pledge

2023-12-01 00:00:00.0 独立报-英国政治原网页

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Labour’s pledge to spend ￡28bn a year on its flagship green economic policy is unlikely to ever be met because of the state of the public finances, according to a senior party source.

Labour’s “green prosperity plan” promised to pour the money into climate-friendly investments every year until 2030 if it wins the next election.

But it was already watered down by the shadow chancellor Rachel Reeves earlier this year – after she blamed that Tories for “crashing the economy”.

At the time she said she would always prioritise being economically responsible.

The plan, announced at the Labour conference two years ago, is designed to reap the benefits of a ‘net zero’ future.

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Initially, Labour planned to spend ￡28billion a year from the moment it entered government.

Ms Reeves later amended that to say the party would “ramp up” to the figure by 2027.

Now there are major doubts at the top of party that that level of investment will ever be met, a source close to the Labour leader Keir Starmer told the BBC.

The party’s ‘rules’ for responsible management of the economy - which include a promise to get debt falling within five years - are seen as the "North Star", more important than any individual policy.

The party later denied it planned to rollback its pledge further, saying it would ramp up investmentto a “total of ￡28bn a year as planned” in the second half of the next Parliament.

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