Now Starmer refuses to commit to £140bn green spending plan

SIR KEIR Starmer has refused to recommit to spending £140billion to create a zero carbon electricity system by 2030.

In the latest suggestion he will scale back plans to borrow billions to meet the pledge, the Labour leader would only confirm the mission to clean power remains in place.

Labour originally promised in 2021 to invest £28billion a year until 2030 in green projects if it came to power – totalling £140billion. But last year shadow chancellor Rachel Reeves said the figure would instead be a target to work towards in the second half of a first parliament.

In an exclusive interview with the Mail, Sir Keir insisted the commitment to clean power by 2030 remains – but he refused to recommit to spending the sum Labour originally said was needed.

‘Of course we need the investment,’ said Sir Keir. ‘It is catalytic investment, because for every one pound we put it we want three pounds of private money, private investment, triggered by it.

‘So the £28billion will be realised in the second half of the Parliament, subject to the money the Government’s already earmarked... and subject to our fiscal rules.’

Pressed on whether he would spend £140billion by 2030, Sir Keir said: ‘The mission is clean power by 2030. Investment will go in the way I’ve described – ramping up in the second half.’

The Tories have questioned how Sir Keir can deliver his 2030 pledge without meeting the £28billion a year, since this figure is a result of Labour’s own costings.

And the Institute for Fiscal Studies has highlighted that Labour has not promised any more money for health, education or local government. It comes as Labour’s shadow business secretary yesterday said his party remains committed to invest £28billion a year in green projects as its ‘level of ambition’.

Jonathan Reynolds conceded

the investment may not be seen until the latter part of the next parliament and that ‘ circumstances do change’.

It was reported that Sue Gray – Sir Keir’s chief of staff – has expressed sympathy with the costly green plan amid fears that backing away from it may be seen as another U-turn. A source told the Sunday Times ‘she thinks Keir

will look weak otherwise’. Divides between the fiscal hawks within the party – including Rachel Reeves, Wes Streeting and Pat McFadden – and the likes of Ed Miliband, who believe in a more expansive economic policy, have been exposed by the plan, the paper said.

Last week, Chancellor Jeremy Hunt said: ‘The £28billion figure is

often discussed without any fundamental interrogation of where it came from.

‘The 2030 target and £28billion spending plan are not separate, they’re two sides of the same coin. Starmer needs to explain how can a government he leads deliver that mission without the investment it said was so necessary in 2021?’