Public investment is desperately needed to kickstart a green economic recovery in the UK, but the government is stuck in the past and reluctant to make the interventions needed, Labour has warned. He blamed an outlook of free-market Conservatism that he said was failing to keep up with the need for economic intervention that the challenges of Covid-19 and the climate crisis demand. This government is allergic to the kind of industry support and intervention that is required. They are stuck in the past, fundamentally they believe in leaving it to the market – but the market can’t cure this.” Rishi Sunak, chancellor of the exchequer, will unveil this year’s budget on Wednesday and is expected to nod towards a green recovery with £22bn for a new infrastructure bank, and cash for hi-tech projects such as hydrogen and carbon capture. […] The government has got a strong framework for green energy policy and in green investment, much of which we put in place, but it needs to combine that with active assistance and helping with key green investments that can make a difference,” he said.
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