UK Labour reveals new energy policy in election battle
Published: 07:05 PM,May 31,2024 | EDITED : 11:05 PM,May 31,2024
Britain's main opposition Labour Party leader Keir Starmer delivers a speech on Labour's energy policy, at the Greenock Arts Centre. — AFP
LONDON: The UK's Labour opposition launched its flagship clean energy policy on Friday, bidding to ease the country's cost-of-living crisis and contrast the party with the ruling Conservatives in the looming general election.
Campaigning in Scotland, Labour leader Keir Starmer detailed plans for a publicly-owned 'investment vehicle', called Great British Energy, to spearhead funding for green energy projects.
The new Scotland-based entity, which he vowed to create 'very quickly' if the party wins power on July 4, will try to reduce household energy bills, create jobs and drive the UK's energy transition towards net zero.
The policy was promptly slammed by Conservative Prime Minister Rishi Sunak as 'incoherent' and unable to deliver energy security. The two leaders will face off in the campaign's first debate on Tuesday. Broadcaster ITV announced on Friday a second debate featuring all seven main party leaders will also be held on June 13.
Labour is widely predicted to win the election, opinion polls show, with Sunak's Tories struggling after years of scandals and cost-of-living pressures. Starmer sought to counter claims that Labour's pledge not to issue new oil and gas drilling licenses in the North Sea will prompt large-scale job losses. 'We're not turning off the taps, we're not revoking the licences, and oil and gas is part of the mix for decades to come,' he said at an event in Greenock. 'There will be new jobs, tens of thousands of new jobs, created by the transition to renewable energy, and by locating GB Energy in Scotland, it makes Scotland the centre of that.'
Labour says GB Energy will invest in domestic power sources, securing energy supplies and lowering electricity and gas prices that rocketed after key producer Russia's 2022 invasion of Ukraine.
It will initially invest in wind, solar and other projects, bidding to make Scotland a world leader in new technologies like floating offshore wind, hydrogen, and carbon capture and storage.
Sunak said the plans were 'completely unachievable'. 'My view is we have to prioritise this country's energy security, that's why we'll continue to support Britain's North Sea energy industry,' he said.
The UK has vowed to reduce its greenhouse gas emissions to net zero by 2050, but experts have warned of 'worryingly slow' recent progress.
Campaigning in Scotland, Labour leader Keir Starmer detailed plans for a publicly-owned 'investment vehicle', called Great British Energy, to spearhead funding for green energy projects.
The new Scotland-based entity, which he vowed to create 'very quickly' if the party wins power on July 4, will try to reduce household energy bills, create jobs and drive the UK's energy transition towards net zero.
The policy was promptly slammed by Conservative Prime Minister Rishi Sunak as 'incoherent' and unable to deliver energy security. The two leaders will face off in the campaign's first debate on Tuesday. Broadcaster ITV announced on Friday a second debate featuring all seven main party leaders will also be held on June 13.
Labour is widely predicted to win the election, opinion polls show, with Sunak's Tories struggling after years of scandals and cost-of-living pressures. Starmer sought to counter claims that Labour's pledge not to issue new oil and gas drilling licenses in the North Sea will prompt large-scale job losses. 'We're not turning off the taps, we're not revoking the licences, and oil and gas is part of the mix for decades to come,' he said at an event in Greenock. 'There will be new jobs, tens of thousands of new jobs, created by the transition to renewable energy, and by locating GB Energy in Scotland, it makes Scotland the centre of that.'
Labour says GB Energy will invest in domestic power sources, securing energy supplies and lowering electricity and gas prices that rocketed after key producer Russia's 2022 invasion of Ukraine.
It will initially invest in wind, solar and other projects, bidding to make Scotland a world leader in new technologies like floating offshore wind, hydrogen, and carbon capture and storage.
Sunak said the plans were 'completely unachievable'. 'My view is we have to prioritise this country's energy security, that's why we'll continue to support Britain's North Sea energy industry,' he said.
The UK has vowed to reduce its greenhouse gas emissions to net zero by 2050, but experts have warned of 'worryingly slow' recent progress.