Afternoon summary
Labour has cut its green investment plans by half, as Keir Starmer ended weeks of speculation to confirm the biggest U-turn of his leadership in a move designed to bolster the party’s chances at the general election. Here is an analysis from Fiona Harvey as to what this means.
And here is an extract:
Estimates from thinktanks and academics suggest 10s of billions a year are needed for the shift to a low-carbon future: the IPPR thinktank came up with a figure of £30bn a year of public investment in a study in 2021, while earlier this year the London School of Economics suggested £26bn a year.
And as a result, the UK is now lagging behind. As Ed Matthew, campaigns director at the E3G thinktank, put it: “A lack of investment in our clean energy transition has left the UK off track to meet our climate targets and uncompetitive in the global clean tech race. Securing climate safety and future prosperity requires a major uplift in public green investment.”
These are from Faisal Islam, the BBC’s economics editor, on what Labour is doing.
Bottom line:
— Faisal Islam (@faisalislam) February 8, 2024
Opposition prioritising ability to attack Government over the rise in mortgage rates as their central election strategy, versus defending an economic strategy of borrowing to invest in a green Industrial Revolution, in a US/ Biden way…
Bottom line:
Opposition prioritising ability to attack Government over the rise in mortgage rates as their central election strategy, versus defending an economic strategy of borrowing to invest in a green Industrial Revolution, in a US/ Biden way…
Essentially the strategy here is
Relentlessly saying “Tory Mortgage Premium” is being prioritised over defending “£28bn green borrowing”
Updated
