Rachel Reeves has confirmed that Labour’s flagship plan to borrow £28bn a year to fund green investment has been scaled back.
The shadow chancellor told BBC Radio 4’s Today programme that should the party win power, it would “ramp up” spending to meet the target by the mid point of the next parliament. Reeves first made the pledge in her 2021 Labour conference speech, promising “an additional £28bn of capital investment in our country’s green transition for each and every year of this decade”.
Subscribe to The New Statesman today from only £8.99 per month
Content from our partners
