The creation of a new state-owned energy company will be headquartered in Scotland, the King’s Speech has confirmed.
Announcing the Prime Minister’s policy agenda on Wednesday, King Charles said GB Energy would “own, manage and operate clean power projects” across the UK.
But Keir Starmer did not say where the company will be based. Labour figures have suggested news could be on the way in the coming weeks though.
Some SNP MSPs have called on the firm to be based in Aberdeen, the centre of the North East oil and gas industry, while others urged for it to be HQ’d in Inverness for its renewables potential.
Labour said Great British Energy will bring tens of thousands of jobs to Scotland while lowering bills and enabling the UK’s transition to net zero.
Labour said the company will help make the UK a “clean energy superpower” as it moves away from fossil fuels.
The Great British Energy Bill provides £8.3bn of new money over the course of this Parliament to accelerate investment in renewable energy such as offshore wind.
It establishes GB Energy, based in Scotland, which will take a stake in green energy projects on behalf of the public, in partnership with private investors.
Labour argues that decarbonising the power system will increase energy security by reducing the UK’s dependence on imported oil and gas, which will also reduce consumers’ exposure to volatile international prices.
But it faced criticism before its sweeping election victory for watering down its original plans to spend £28bn a year on green measures, and experts have warned its bid to achieve 100% clean power by 2030 is a tough ask.
The SNP criticised the King’s Speech as a “missed opportunity” that failed to deliver measures such as scrapping the two-child benefit cap.
SNP Westminster leader Stephen Flynn said: “Keir Starmer has failed his first test in government. This timid legislative programme is a missed opportunity that failed to deliver the change that people in Scotland were promised.
“People in Scotland voted for clear and substantial change at Westminster, and the Labour Government was handed a huge mandate to deliver it, so it’s bitterly disappointing that they have thrown that opportunity away.
Getty ImagesThere were no surprises in the King’s Speech on Wednesday, with it confirming the UK Government’s plans to introduce VAT for private schools, set up a “modern” asylum and immigration system and create a new council for the nations and regions of the union.
It also confirmed Labour’s longstanding “New Deal for Workers” which will increase the minimum wage, end pay discrimination between age groups and ban zero-hours contracts.
Most of the big announcements are in areas devolved to Scotland though, meaning they will only or mostly apply in England.
They include big changes to the planning system south of the border to allow for more houses to be built, an end to no-fault evictions, bringing trains into public ownership and establishing an independent football regulator.
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