Labour says plan is subject to party’s fiscal rules of keeping debt falling as a percentage of GDP

Keir Starmer has downgraded his target of spending £28bn a year on green investment schemes in the next parliament to an “ambition”, in the latest sign of the Labour leader backing away from his flagship green policy.

Starmer said on Friday he wanted to reach the £28bn figure by the second half of the parliament if Labour won the next election, but could not guarantee that he would be able to do so.

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