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CBI yesterday responded to Labour’s Green Prosperity Plan.

Rain Newton-Smith, CBI Chief Executive, yesterday said:

“The green economy represents an enormous growth opportunity for UK plc, with firms around the country desperate to get in on the action.

“With global competitors now providing significant financial incentives to investors, the UK faces a race against time to capitalise on its early mover status, predictable policy environment and well-developed supply chain or risk missing out on significant economic prizes.

“Investors will naturally respond to the size of investment – and ambition here is important. But the UK’s pitch must be how it can outsmart, not outspend its competitors, with a focus on outcomes for our economy.

“This should be a time when we champion our net zero progress and double down on our green growth ambitions. All parties should be mindful of the signals they send out about the UK’s openness and readiness for green investment.”