Kevin Schofield is Politics Editor of HuffPost UK.
Labour leader Keir Starmer and shadow chancellor Rachel Reeves have ripped up one of their flagship policies.A ‘Warm Homes Plan’ to insulate 19 million homes in 10 years has been scaled back to 5 million in 5 years as part of the climbdown.that a Labour government would spend £28 billion a year over the course of the next five-year parliament - a total of £140bn - on projects to tackle climate change.
Starmer said the £28bn commitment was being “stood down” because Liz Truss had “crashed the economy”, while Jeremy Hunt plans to spend any spare Treasury cash on tax cuts ahead of the election.“We’re going to inherit an economy that’s very broken and we have to adjust to the circumstances.” Despite the scaling back of Labour’s original plans, Starmer insisted the party was still committed to delivering a zero-carbon electricity system by 2030.Meanwhile, a £7.3bn National Wealth Fund - with the private sector providing £3 for every £1 of public cash - will invest in electric vehicle production, clean steel and carbon capture and storage.
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Iceland boss Richard Walker 'defects' to back Labour PartyRichard Walker, the chairman of Iceland, has switched his support from the Conservative Party to the Labour Party, criticizing the Tories for failing the nation and being out of touch. He stated that the country is in a much worse state than it was 14 years ago under Conservative rule.
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Labour will not bring back cap on bankers' bonuses if they win next electionIf Labour wins the next election, the party will not bring back the cap on bankers’ bonuses. The limit on pay-outs to bankers was junked as part of Liz Truss’s You can see why Labour has decided to keep things as they are in this regard. The party is desperately keen to be seen as supportive of business and financial services, and they do not want to shake up or alienate those sectors in an election year, at an extremely difficult economic juncture. They have large commitments, particularly in the New Deal for Working People, that are hard sells to the private sector, that they need to balance out, and the bankers’ bonus cap does not ultimately impact that many people, nor does it do anything for the Treasury’s coffers
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Keir Starmer Condemned Over Labour's U-Turn On £28 Billion Green Energy PlanKevin Schofield is Politics Editor of HuffPost UK.
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Nottingham City Council Requests 'Exceptional Financial Support' After Declaring Itself BankruptNottingham City Council has asked the Government for forms of ‘exceptional financial support’ after it effectively declared itself bankrupt at the end of November last year. The Labour-run authority took the extraordinary step of issuing a Section 114 notice on Wednesday, November 29, amid a £23m budget gap in the current financial year.
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Violence Erupts in Blackpool, Shops Sent into LockdownEmergency services were scrambled and shops were sent into lockdown this afternoon as violence descended on a quiet corner of Blackpool. According to eyewitnesses, "two lads on bikes with hats and balaclavas" were involved in the melee outside a row of stores on Westcliffe Drive in Layton. Staff were left shaken following the incident, which saw a young male rushed to hospital after being 'slashed in the face'. Several individuals are believed to have been involved in the brawl, which occurred shortly after 1.20pm this afternoon (February 7). Since then, it has been reported the sandwich shop and Nitro's ice-cream adjacent to it have been shut and will remain closed for the next few hours.
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Labour Has Slashed Its Green Spending Pledge By More Than £100 BillionKevin Schofield is Politics Editor of HuffPost UK.
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