Labour’s proposed investment of £28bn a year in the low-carbon economy is an absolute minimum, a leading business figure has said, adding that without green investment on that scale the UK will face steep decline as a result of crumbling infrastructure and stagnating industry.
Jürgen Maier, the former UK head of Siemens, the German industrial giant and major investor, said massive investment was needed to rebuild the UK economy and make it fit for the future, and that it should concentrate on low-carbon energy, transport and industry.
“These are the growth areas of the future,” he said. “The £28bn is not a cost, it’s an investment. If you make this investment, business will return to the UK.”
Maier is advising Labour on transport and infrastructure, and formerly gave advice to the Conservative government. He said the Tories had turned their back on business and industry,…
