Sir Keir Starmer’s Labour Party has won the 2024 general election in a landslide, beating Rishi Sunak’s Conservative Party.
Now that Labour has won the election, eyes will turn to some of its manifesto pledges, which heavily included energy policy at its heart. For instance, the Party said it would collaborate with the private sector to double onshore wind power, triple solar power, and quadruple offshore wind power by 2030.
Labour Party’s manifesto prioritised green policies, placing them “at the heart” of its growth, prosperity, and climate resilience plans. The manifesto proposed a significant budget of £23.7 billion for green initiatives over the next parliamentary term, aiming to create 650,000 jobs by 2030, drive industrial renewal, lower bills, and ensure secure clean energy supplies.
Starmer also promised to create GB Energy, a publicly owned clean power company. According to the party, the organisation aims to reduce energy bills and enhance energy security. Funding for this project will come from a windfall tax on oil and gas, which directly opposes the Conservatives’ support for oil and gas licencing.
Additionally, Labour promised to invest in carbon capture and storage, hydrogen, and marine energy. It also pledges to reward clean energy developers with a ‘British jobs’ bonus, allocating £500 million annually from 2026.
More to follow…
