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Hello and welcome to a special Saturday's should-of-coffee house shots.

I'm Natasha Froze and I'm joined by Katie Balls and John McTurlan.

Labour have announced that they are watering down one of their flagship policies,

which is a 28 billion pound green project announced today by Rachel Reeves.

Katie, how much of a U-turn is this?

Is it particularly embarrassing for Labour?

So I think it's quite significant in the sense that if you ask someone to list

Labour policies often, people will say, oh,

or perhaps they'll phrase more, it's in the Tories of Labour light.

But there'll be quite a few similarities generally speaking.

You think about windfall taxes and so forth.

And the green prosperity plan was very much

something that differentiated Labour from the Tories.

They had it before the inflation reduction act by Joe Biden,

but it has a similar purpose in terms of the ideas.

28 billion a year invested in green jobs, green energy.

And when Rachel Reeves first spoke about this in 2021,

...