Shadow chancellor says Labour will receive a ‘bleak inheritance’ from Tories and has had to make changes as a result
Rachel Reeves has defended Labour’s U-turn on its pledge to spend £28bn a year on green projects.
In a move that prompted an angry response from environmental groups, unions and some in the energy sector yesterday, Keir Starmer and Reeves jointly announced they would slash the green prosperity plan to under £15bn – only a third of which would be new money.
I’ll make no apologies for ensuring that our plan is fully costed, fully funded and deliverable within the inheritance we’re going to get.
It is going to be a bleak inheritance after the damage the Conservatives have done to our economy.
In the almost three years that I’ve been shadow chancellor, I think people have heard loud and clear from me that fiscal responsibility, economic responsibility, are the most important things for me because it is absolutely essential that the public finances are managed well.
And when economic circumstances change, your plans have to change as well.