Labour’s green investment plans promise to create over 650,000 jobs, unveiling a £7.3bn green investment vehicle post-election. Shadow chancellor Rachel Reeves emphasizes the focus on the economy this week, aiming for growth and better wages across the UK.
The National Wealth Fund, a key part of Labour’s economic stimulus and climate change efforts, will inject funds into various sectors like ports, gigafactories, clean steel, and more. This initiative, along with Great British Energy, aims to attract private capital and create 656,500 jobs in sectors like electricals and engineering.
With key advisors like former Bank of England governor Mark Carney, Labour is set to receive guidance on fund management after the election. As the party contrasts its investment plans with Conservative tax cuts, questions arise about potential tax increases to fund these initiatives.
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