Labour Caves on £140 Billion Green Energy Plan Over Cost Fear
- Opposition party says spending will now ‘ramp up’ gradually
- Policy left Labour open to Tory jibes over reckless spending
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The UK opposition Labour Party watered down its £140 billion ($176 billion) flagship green energy plan days before it was due to be presented as concern that it was too expensive and ambitious created mounting tensions among senior figures.
The party caved in to internal pressure on the five-year spending promise and now plans to “ramp up” to £28 billion per annum, rather than hit that figure from the beginning if it wins power.