Chancellor's carbon capture spend signals investment focus

Quick Summary:

The UK will prioritise and increase investment in major projects in the Budget, Rachel Reeves says.

She added that the announcement "will not make up for the mass deindustrialisation pathway that Ed Miliband’s costly net zero and energy policies are leading us to, with the devastating impact of his zealotry on jobs already seen in steel-making, refineries and in the North Sea".

She criticised plans she inherited from the previous government to cut investment as a share of the economy, saying she would not repeat “those mistakes”.

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Article Details

Category: Business

Markets: United Kingdom

Topics: Government Private Projects Investment Major Funding Budget Chancellor Reeves Carbon

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-03 @ 23:07:20 (16 hours ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 656 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 22874067

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