Labour Leader Calls for £28bn Investment in Renewable Energy
The Labour Party's flagship green pledge has been thrown into disarray as party leader Sir Keir Starmer and his own shadow chancellor, Rachel Reeves, appear to be at odds. Starmer recently emphasized the importance of a £28 billion annual spending spree to boost renewable energy, stating that it is "desperately needed." However, Reeves has refused to commit to this figure multiple times, causing confusion within the party.
Tories Accuse Starmer of Planning Tax Raid to Fund Green Promise
Senior Tories have capitalized on the confusion, accusing Sir Keir Starmer of planning a tax raid on families to finance the eco promise. They argue that the Labour leader's commitment to a £28 billion investment suggests that he intends to burden hardworking people with higher taxes. The Tories have criticized the lack of a clear plan for funding the spending spree.
Labour Insiders: £28bn Price Tag Becoming a Burden
Insiders within the Labour Party had previously suggested dropping the £28 billion price tag, as it was being used as a target for relentless Tory attacks on the party's financial plans. The figure had become "an albatross around our necks," according to party insiders. Frontbenchers have been reluctant to directly promise to spend this amount, leading to further confusion and uncertainty.
Labour Remains Vague on Spending Commitment
During recent interviews and discussions, Labour party members have taken various positions regarding the £28 billion spending commitment. Rachel Reeves, the shadow chancellor, refused to confirm 10 times that she would spend £28 billion per year if she became Chancellor. Additionally, her deputy stated that the number would "move around." This lack of clarity has raised doubts about the party's commitment to the figure.
It was widely anticipated that the £28 billion figure would be abandoned after the Budget on March 6, once the state of the finances became clear. However, Labour remains divided on the issue, further adding to the confusion surrounding their green pledge.
Tories Argue for a Unified Plan with Conservatives
Commenting on the situation, Chief Secretary to the Treasury, Laura Trott MP, criticized Keir Starmer's approach to unfunded spending and highlighted the potential for higher taxes if Labour were to implement their £28 billion spending spree. Trott emphasized the importance of sticking to the plan with Rishi Sunak and the Conservatives, as it would allow for lower inflation, reduced debt, and a stronger economy.
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https://hellofaread.com/politics/kwasi-kwarteng-to-step-down-at-next-election-after-being-sacked-by-liz-truss/
