Rachel Reeves: Labour’s green plan will have a slower start

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The party had planned to spend £28bn a year on green industries when it came to office, but now says it will “ramp” investment up to that level by the second half of the next parliament because of the state of the government finances.

Shadow chancellor Rachel Reeves told BBC Radio 4’s Today programme it was “so important” to meet Labour’s rules on spending and borrowing, and the party would take into account the impact of the two government fiscal statements expected before the next general election.

She said last year’s Conservative mini-budget of “unfunded commitments” had crashed the markets and caused people’s mortgages to increase.

LLabour waters down £28bn green investment pledge

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