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Tuesday, April 23, 2024

Tories Must Urgently Match £500 Million Just Transition Fund

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The SNP has urged the Tories to match the Scottish Government’s transformational £500 million Just Transition Fund – following a new announcement of an important £25 million agreement between SNIB and the Just Transition Fund to support the transition to net-zero in the North East.

The renewed calls come almost two years after the Scottish Government launched the £500 million Fund and the UK government were urged to make the same investment.

£50 million has already gone towards the ongoing projects from year one of the Just Transition Fund.

Despite this, and in the face of an ever more urgent climate emergency that requires a serious reduction in our reliance on fossil fuels, the Tory government has failed to match the SNP’s vital funding.

Westminster has also repeatedly ignored Scotland’s renewable energy potential, snubbing the North East’s Carbon Capture project since 2014.

Commenting SNP Leader at Westminster, Stephen Flynn MP, said:

“I am delighted to see the SNP investing even more in our transition to net-zero, and ensuring that transition is fair, and works for everyone.

“This is an exciting time for Scotland’s renewables sector and we must make sure we seize the opportunity to be a global powerhouse in the industry.

“The Scottish National Investment Bank has net-zero principles at it’s core and is perfectly placed to work in partnership with the Just Transition Fund to deliver funding as quickly as possibly to help deliver our Just Transition, ensuring energy security and jobs for generations to come.

“The SNP’s commitment is in stark contrast to the Tories, who have left people and businesses across the North East shamefully waiting almost two years for Westminster for them to step up and match the SNP Government’s £500 million Just Transition Fund.

“Warm words just won’t cut it when it comes to investing in the future of our energy sector, and supporting our businesses, jobs and communities.

“We need action and investment from the UK Government, and we need it now.

“If the Tories don’t start backing our move to greener energy immediately, the North East will not forgive them for it – independence is the only way to ensure Scotland fulfils its vast potential and continues as a world-leader when it comes to tackling our climate crisis.”

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