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Labour drops green investment plans in favour of fiscal discipline

UK houses and wind turbines
Labour has pledged that under its leadership, the UK will have a zero-carbon electricity system by 2030 and its plans for Great British Energy remain on the table (Photo: Chris Ratcliffe/Bloomberg)

The UK Labour party has pledged to invest £5bn a year in green investments, a paltry sum compared with its previous promise of £28bn

The UK government’s main opposition party is under fire for ditching a pledge to invest £28bn annually in green energy. Instead, Labour leader Sir Keir Starmer has announced that his party, if elected to lead the UK in the next general election, would spend £24bn over the entire next parliament, equivalent to just under £5bn a year. 

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