Labour: No plans discussed to water down green investment
Shadow Transport Secretary Louise Haigh insists the Labour Party has had "absolutely no discussion" about watering down their commitment to a £28 billion Green Prosperity Plan, despite reports stating it was being considered. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00 And in a world where other countries like America and the EU are investing enormous sums of money
00:06 in those green industries, we've recognised that we have to match that ambition in order to compete.
00:13 And so that's why that is a central plank of our economic growth strategy.
00:17 There has been absolutely no discussion at Shadow Cabinet about scaling back the Green Prosperity
00:22 Plan. It is essential to our economic growth strategy. What Rachel Reeves, our Shadow
00:27 Chancellor, has repeatedly set out is that it must be in line with our fiscal rules,
00:31 which means no borrowing to fund day-to-day spending, but does mean bringing down debt
00:37 as a proportion of GDP over the course of the Parliament. And that is absolutely consistent
00:41 with borrowing to invest in these areas of the economy that we absolutely need to compete
00:46 globally and create those jobs in the areas of the country that need them most.