Ed Miliband – 2021 Comments on the Government’s New Infrastructure Bank

The comments made by Ed Miliband, the Shadow Business Secretary, on 4 March 2021.

The Government’s smoke and mirrors cannot distract from the fact we have been left without the green investment we need. We needed climate leadership from government but we got climate failure.

In the year of COP26 when we are wildly off track to meet our climate targets, we needed the Chancellor to put a green stimulus at the centre of the Budget.

He totally failed to do so. A £1bn cut to the green homes grant, a refusal to help our manufacturers make the green transition and an investment Bank that lacks anything like the ambition we need.

Far from transformative investment in infrastructure, the Government’s new bank won’t even plug the hole left by the European Investment Bank and will see us trailing way behind countries like Germany.