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Meanwhile, the Labour Party, embarrassingly slashed its plan to step up investment by an extra £28bn per year as part of its Green Prosperity Plan, despite having championed it for so long. Although this plan was entirely consistent with its own fiscal rule of borrowing to invest, it was concerned that it would fall foul of another rule, shared with the government, which commits it to cutting public debt by the end of the next five years. It feared relentless Conservative attacks about ‘unfunded spending’.
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