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...Tata Steel is receiving £500mn of state support to help its transition to producing green steel through electric arc furnaces, which are less carbon-intensive and require fewer workers....
...A green energy tycoon who plans to donate £5mn to the UK’s Labour party has been ordered by the High Court to inform his wife before he hands over more cash....
...Labour has been keen to avoid any more public U-turns after coming under fire from the Tories for “flip-flopping” over policies including the size of its £28bn green prosperity plan....
...With me here in the FT studio are Political fix regulars Miranda Green. Hi, Miranda. Miranda GreenHello, Lucy. Lucy FisherAnd Jim Pickard. Hi, Jim. Jim PickardHello....
...They gave the story about the green plan for the Guardian . . . Robert ShrimsleyJust the way you wrote it, Jim. (Jim laughs) You just missed the story. Jim PickardYeah, I know....
...Starmer also allocated money to the green plan from a previous promise to introduce a new, tougher levy on the North Sea oil industry....
...But the Labour leader’s volte-face on his green investment plan showed how hard that is, even in opposition....
...It was Reeves who pledged in 2021, when interest rates were close to zero, that a Labour government would borrow £28bn a year for green capital spending....
...Gething had campaigned on pledges to raise education standards, improve the Welsh NHS, build more homes and deliver more green jobs....
...Petrochemicals billionaire Sir Jim Ratcliffe has blamed Europe’s “suffocating bureaucracy” and environmental red tape for pushing companies to invest outside the bloc, admitting that he would not have agreed...
...Lucy FisherAnd also here is the FT’s Jim Pickard. Hello, Jim. Jim PickardHi....
...Sir Keir Starmer has defended his flagship “green prosperity plan”, insisting borrowing billions of pounds to invest in low-carbon projects is essential “investment in the future” — while admitting it could...
...Lucy FisherAnd Jim Pickard. Hi, Jim. Jim PickardHello....
...Stark’s resignation comes just months after prime minister Rishi Sunak’s decision to roll back a series of green measures, as well as drawing up legislation to encourage more oil and gas drilling in the...
...The £28bn figure — part of Labour’s “green prosperity plan” — has been slashed to under £5bn a year of spending on green projects....
...“It should not be outside anyone’s imagination to squeeze some other capital spending into the GPP, whether it’s ‘green social housing’ or ‘green railways’ or whatever else.”...
...The government said the UK was “leading the world” and it expected to support the creation of 480,000 green jobs by 2030. It added it would publish its “green jobs plan” this year....
...Asked if Labour could tweak the green prosperity plan further ahead of the election, Starmer dodged the question....
...Jim Pickard is the FT’s deputy political editor This piece was amended since publication to reflect that Gary Lubner moved to the UK 35 years ago....
...“He wasn’t re-elected in Bethnal Green or in Bradford. He’s a lightning rod for discontent, not a representative,” he said....
...I mean, not only did you have essentially no Labour candidate, the Greens had disowned their candidate....
...Labour’s green prosperity plan will prove to be either the party’s Achilles heel or the centrepiece of a “Green New Deal” for Britain — or possibly both....
...The move would be the latest in a series designed ostensibly to protect consumers from the cost of going green during a cost of living crisis....
...Labour would keep its green investment plan but shift its focus away from the £28bn figure on to the kinds of projects it wants to fund....
...The FT’s Jim Pickard joins Miranda Green and chief political commentator Robert Shrimsley to assess the damage to Labour after weeks of confusion over the policy....
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