Starmer: £28 billion investment ‘desperately needed’ for our clean power mission

The Labour leader underscored the critical need for £28 billion in annual renewable energy investment, countering recent speculation about the party’s intentions to abandon this commitment. Keir Starmer reiterated his steadfast support for the party’s renewable energy agenda, stressing that such investment is crucial for achieving clean power targets by 2030.

He defended the necessity of borrowing for these investments and affirmed his dedication to the principle, acknowledging that adjustments may be required within fiscal constraints. Starmer’s reaffirmation of the £28 billion pledge garnered approval from advocates, who view it as indispensable for both climate objectives and regional development. Opposition to reducing this commitment has been voiced from various quarters, including Labour MPs from different ideological wings and business leaders.

While Labour sources suggest adjustments to green ambitions, emphasising existing plans such as the creation of GB Energy and a home insulation program, they maintain the core mission of renewable energy investment. Starmer’s stance contrasts with recent comments from Shadow Chancellor Rachel Reeves, who prioritised fiscal rules in media interviews, prompting concerns about a potential scaling back of green commitments.