What Britain’s Scrapped Green Spending Budget Tells Us About Global Politics

Similar to the Keir Starmer’s recent scrapping of green spending budgets, several notable instances had been popping up around the globe. Precedently, the Australian government drew its $10 billion from CEFC (Clean Energy Finance Corporation). The withdrawal from the investment was mainly dependent on the depreciation of electricity consumption, meaning that the renewable energy industries were being neglected. For a decade, the Australian government underwent several challenges, discussing the cruciality of the investment on the renewable energy industries. Cities including Melbourne were greatly benefited after the government’s investing on the green spending budget. Senate in Australia strongly claimed that the green spending budget should not be used in political manners. This incidence demonstrates parallelity with the recent scrapping of the British Labour Party. They blamed the Conservative party for the unstable economy which they stated as a main factor of the withdrawal. Two incidents from two different governments clearly manifest the budget being pulled out due to the outer factors. 

Notable from the trend of recent scrapping of green spending budgets, some of the incidences are being exploited for politics. Furthermore, many individuals are yet unsure about the large figures being invested in the green spending budgets, questioning the sustainability and reliability of the renewable energy industries. It is debatable wheter political leaders should spend more resources on future climate plans and renewable energies. Nevertheless, it is clear that there should be a balance between political exploitation. The recent scrapping of Labour Party shows that the green spending budget should not fluctuate due to the external influences. If other things are so important that it should disregard the green spending budgets, then it will require the consensus, where steep withdrawal like recent instances do not occur. As many governments focus on the climate plans and future developments of renewable energy, the initiatives should be stable enough; not tilting to one side.