Making social science accessible

08 Feb 2024

David Bailey on BBC Radio 4: Reaction as Labour ditches £28bn green investment pledge


Labour is ditching its policy of spending £28bn a year on its green investment plan in a major U-turn.

An official announcement will be made on Thursday.

Sources insist the party’s Green Prosperity Plan, which includes creating a publicly-owned green power company, is not being dropped altogether.

But Labour will no longer commit to investing £28bn a year in green energy projects if it wins the next election.

Labour’s position on the policy in recent weeks has been increasingly muddled, with some senior figures repeatedly refusing to use the £28bn figure when pressed in interviews, while others, including party leader Sir Keir Starmer, continued to do so.

It is expected Labour will argue that they have to focus on being seen as responsible stewards of the economy, rather than committing to a spending pledge that opponents regard as reckless.

It comes on the same day the EU’s climate change service announced that global warming has exceeded 1.5C across an entire year for the first time.

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