Special report by PEOPLE’S WORLD
What exactly is the Green Prosperity Plan?
Is it a massive injection of public cash to the tune of billions — or is it another ‘fund’ to attract private finance? Don’t get your hopes up, writes SOLOMON HUGHES
THE Labour Party’s biggest remaining promise is a Green Prosperity Plan, promising to spend “£28 billion per year” investing in green jobs and insulation. That sounds like a big offer. But what does it say in the small print?
Shadow chancellor Rachel Reeves’s plan is modelled on Joe Biden’s Inflation Reduction Act. Looking at Biden’s scheme gives us clues to what will happen with Reeves’s plan.
Biden’s Inflation Reduction Act (IRA) is a trimmed-down version of his original “build back better” plan. That was an ambitious, New Deal-style mix of social and economic investment.
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