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International Business Times UK
International Business Times UK
Politics
Callum Conway-Shaw

Labour Backtrack On £28 Billion Green Investment Pledge After Weeks Of Confusion

Labour Party ​​Rishi Sunak Rachel Reeves Darren Jones Economy Sir Keir Starmer United Kingdom
Labour is now expected to push specific green energy commitments already made – such as a mass home insulation project, and the set-up of a publicly-owned company called GB Energy. (Credit: AFP News)

A senior Labour frontbencher has confirmed the party will backtrack on its commitment to spend £28bn a year on green investment schemes, after weeks of confusion.

Shadow Chancellor Rachel Reeves made the pledge at the party conference back in 2021, but since then it has been steadily scaled back.

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