Labour's Net Zero Plans to Cost 'Hundreds of Billions', Reveals Top Frontbencher

Leaked Comments Spark Debate

Labour's net zero plans are set to cost "hundreds of billions of pounds," according to Darren Jones, a top frontbencher. Speaking at a local activist meeting in Bristol, Jones revealed that the scaled-down £28 billion earmarked for eco-energy funding by Sir Keir Starmer was considered a "tiny" amount.

Shadow Chief Secretary Admits Funding Discrepancy

Jones admitted that the £5 billion Net Zero funding promised in the manifesto may have given the impression that the plan was abandoned, but clarified that this was not the case. Despite industry experts branding the green transition policies as unsustainable, Labour remains committed to prioritizing them.

'Not Affordable in Next Five Years'

In a leaked recording obtained by The Telegraph, Jones emphasized that the £28 billion allocated for the plan was insufficient, stating that "hundreds of billions of pounds" would be required. He acknowledged that the initial figure was not realistic for the next five years and may have detracted from the mission of decarbonizing the power system by 2030.

Call for Transparency on Taxation

Laura Trott, Chief Secretary to the Treasury, called on Sir Keir Starmer to be transparent about how Labour intends to fund the green investment plan. Trott expressed concern that the actual cost of implementing the flagship policy could be significantly higher than what has been publicly disclosed, potentially leading to substantial tax hikes.

Debate Ahead of TV Showdown

The leaked comments by Jones are likely to reignite the debate over Labour's spending plans, just before the TV debate between Rishi Sunak and Sir Keir Starmer. The Tories have been critical of Labour's financial proposals, arguing that they could result in substantial economic burdens for taxpayers.