Following Shadow Chancellor Rachel Reeves’ speech at the Labour Party Conference, Shevaun Haviland, Director General at the BCC, said:
“The British Chambers of Commerce (BCC) welcome the Labour Party’s ambition to build British industry through its National Wealth Fund proposal, which puts a particular emphasis on energy and climate investments.
“Businesses thrive best when there is a long-term plan. The Shadow Chancellor’s announcement shows that Labour has a business plan for the future, with a strong commitment to investing in growth industries.
“We believe that Net Zero, and developing technology projects in this space, should absolutely be the focus for investment by the National Wealth Fund. Opportunity is ripe across green industries, and now is the time to place the UK economy and businesses at the vanguard of this new wave, which has massive potential for growth.”