Prospect welcomes Labour’s British Industry Bonus

Keir Starmer has launched Labour’s clean energy mission in Edinburgh with a pledge to introduce a British Industry Bonus.

Labour says it is setting aside a fund of up to £500m for each of its first 5 years to provide incentives for companies to manufacture in Britain’s industrial heartlands and coastal communities. It also committed to delivering a Just Transition away from high carbon jobs which is one of Prospect’s main campaigns.

Sue Ferns, Senior Deputy General Secretary of Prospect, responded:

“This ambitious speech shows that Keir Starmer understands the UK desperately needs a new approach to energy policy: for the climate, for consumers and for workers.

“Net zero offers a once in a generation opportunity to create good, unionised jobs in every part of the country, but this government is letting other countries reap the rewards in the race to electrify.

“Delivering Labour’s clean energy mission will require sustained investment in all parts of the energy industry and a relentless focus on guaranteeing a just transition for those on the frontline of change. The British Industry Bonus is a welcome response to Biden’s Inflation Reduction Act that will encourage companies to build in Britain.

“It is vital that workers have a voice in the delivery of these jobs. Employers and policy makers must engage with unions like Prospect to ensure that the jobs created are good ones, with lasting benefit for workers and local communities.”