All spending under a Labour government would be tested against the net-zero emissions goal, the party’s shadow chancellor of the exchequer has pledged.
Anneliese Dodds said “every single” line in a future Labour government’s Budget would have to comply with the goal of net zero carbon emissions during her keynote speech this morning (21 September) at the party’s virtual ‘Connected’ conference.
She said: “The evidence is crystal clear; investment that favours our climate, also favours jobs – in the short and long term.
“The awful damage caused by this year’s floods have laid bare the costs of inaction. We can’t afford to miss opportunities for environmental innovation, and the jobs it will bring.
“We can no longer accept public funds paying for projects that make the shift to net zero harder. Mark my words: as chancellor I would never allow public spending to contribute to the climate crisis.
“Instead, public spending must help us climb out of it, supporting the jobs of the future in the process. A responsible approach to the national finances. Because you’re only as cavalier with public money as our current chancellor, if you don’t know the value of it.”
Dodds, who was appointed shadow chancellor by Keir Starmer following his election as Labour leader in April, also said that businesses would have to meet net-zero obligations in order to secure funds from Labour’s proposed package of coronavirus crisis measures to support the economy.
As part of this, she called on her opposite number chancellor Rishi Sunak to “urgently” put in place a Business Rebuilding Programme.
“That programme must be set up now – so we don’t end up once again with last-minute, panicked schemes that waste public money. It must be targeted, so support goes to purposeful, responsible businesses that will invest for the future – including meeting our net zero target.”
Yesterday, deputy Labour leader Angela Rayner used her speech opening the Connected event to reiterate Starmer’s pledge to ban the so called “fire and rehire” tactics.
The Labour leader accused companies including British Gas of using these practices in his address to the Trades Union Congress last week.