Labour would “close the door on Putin” by reducing Britain’s reliance on fossil fuel from overseas, Sir Keir Starmer has said, as he accused the Tories of leaving the nation exposed by failing on energy security.
On Tuesday, he will say the party’s plan to set up GB Energy – a publicly owned clean energy company – will help to protect the UK from spikes in the price of fuel like those that followed Russia’s invasion of Ukraine.“Energy policy is now a matter of national security. It is a key component of our country’s resilience and capacity to weather future shocks.“Keeping the lights on and heating our homes should not mean leaving our front door open to Russia.
The party says the firm will be headquartered in Scotland and funded through a windfall tax on big oil and gas firms, with an initial £8.3 billion capitalisation over the course of a parliament.This kind of tax is already in place, and was recently extended until 2029, but Labour would charge a higher rate.
Labour said the Conservatives were “gambling with family finances by opposing investment in homegrown clean energy”.