Miliband to argue net zero targets essential for UK jobs and growth
9 reported
Ed Miliband is expected to argue that the UK must maintain its net zero targets to deliver jobs and growth, according to a speech he is due to give during London Climate Action Week. The energy secretary will speak as new data shows private sector companies have pledged over £100bn in green investment during this parliament. Miliband is tipped as a possible successor to Chancellor Rachel Reeves, who may follow Prime Minister Keir Starmer in stepping down. The net zero targets have been cited as a reason for the government’s unpopularity, with some cabinet ministers, trade unions, and rightwing media criticizing the push. However, experts cited in the report said the investment data and previous findings suggest the net zero economy has grown faster than the rest of the economy and generates higher-paying jobs. The investments include offshore wind, solar power, and electricity grid projects across all UK regions, with contributions from UK companies and overseas sources including the EU and Japan.
What’s reported
Ed Miliband is to say the UK must stick to net zero targets to deliver jobs and growth.
Data shows more than £100bn in green investment has been pledged by private sector companies in this parliament.
Miliband is tipped as a possible chancellor to succeed Rachel Reeves, who may follow Keir Starmer in stepping down.
Net zero targets have been cited as one reason for the government’s unpopularity.
Cabinet ministers, some trade unions, and rightwing media have attacked Miliband and claimed net zero is a drag on the economy.
Sharon Graham, Unite general secretary, said Miliband would be a “noose around the neck” of job creation if he became chancellor under Andy Burnham.
Experts told the Guardian that the new investment data and previous findings by the Confederation of British Industry suggested the contrary.
Offshore wind, solar power, and the electricity grid make up the bulk of the planned investment, most between 2024 and 2031.
Investments include nearly £14bn in Scotland, £7.5bn from Japan’s Sumitomo, £40bn from National Grid, and £1.7bn in retrofitting social housing from Barclays, NatWest, Lloyds, and Rothesay.
Key figures
Ed Miliband, energy secretary
Rachel Reeves, chancellor
Keir Starmer, prime minister
Sharon Graham, Unite general secretary
Andy Burnham, likely successor to Starmer
Bob Ward, policy director at the Grantham Research Institute of the London School of Economics
Ed Matthew, UK director at E3G
Sources: The Guardian
