Labour's £28 billion green splurge scaled back to just £4.7 billion
In a surprising turn of events, Labour's flagship £28 billion energy scheme has been drastically reduced to just £4.7 billion per year. Shadow Chancellor Rachel Reeves, who initially unveiled the £28 billion figure, has successfully pared back the costly policy. The remaining funding will come from expanding and increasing the windfall tax on energy firms.
A weird political event
The announcement of the policy change took place in a dusty room in Parliament, where journalists were invited to witness the event. The atmosphere was peculiar, with forced smiles and no hint of disagreement between Reeves and Labour leader Sir Keir Starmer. However, the absence of Ed Miliband, the party's green guru, who previously vowed to protect the plans, was notable.
Denying a rift
Sir Keir Starmer felt compelled to deny any rift between himself and Rachel Reeves, jokingly mentioning that she thinks he talks about football too much. Despite his attempt to downplay any disagreement, his forced smile while speaking suggested otherwise. The public denial of a rift between the two party leaders does not bode well for their future in power.
Some pet projects survive
While the price tag has been reduced, certain pet projects of Ed Miliband, such as the claim that the UK's entire power network can go green in the next six years, have survived the policy change. However, the credibility of these claims is questionable. Another concerning aspect of the plan is the proposed state-owned energy firm, Great British Energy, which would receive £8.3 billion in taxpayer start-up cash if Labour wins. Past examples of state-owned energy firms have not ended well, leaving taxpayers with significant debts.
Cracking down on questionable spending
Kemi Badenoch, a government minister, has blocked a pro-IRA rap group endorsed by Jeremy Corbyn from participating in the taxpayer-funded Music Export Growth Scheme. However, London punk rockers Warmduscher have received official cash handouts despite previously insulting the government in their lyrics. This raises questions about the appropriate use of taxpayer money.
India-Brexit trade deal at a critical point
The chances of a trade deal between India and the UK before the election are becoming increasingly slim. Negotiations have been at a standstill for a year, primarily due to Indian demands for more UK visas and the removal of tariffs on imported goods. While there is one final push to reach an agreement, there are rumors of a limited accord being signed instead of the promised comprehensive free trade agreement.
