Labour promise Scotland's first carbon capture and storage facility amid pledge to 'build British industry’

Labour have promised to restore plans to build Scotland's first carbon capture and storage facility and help “build British industry”.

The Acorn Project at St Fergus in Aberdeenshire had hoped to be ready by the middle of the decade but is now likely to come in the second phase of the UK’s carbon capture.

However, Monday will see the Shadow Chancellor Rachel Reeves set out plans for more homegrown projects from battery factories to renewable ready ports.

Labour have pledged to build British industries in every region of the UK – with the plan for offshore wind alone injecting investment into nine clusters: Forth and Tay, Humber, East Anglia, Solent, North West and North Wales, Belfast Harbour, North East Scotland, North East England and the Celtic Sea.

Shadow chancellor Rachel Reeves is expected to announce the plans on Monday.

This is understood to include the site in Scotland that previously had missed out on UK Government funding earlier this year.

The projects will be funded by a National Wealth Fund, with the party’s Green Prosperity Plan (announced last conference) putting an initial £8 billion into a central pot to build British industry.

Speaking at Labour conference in Liverpool, Ms Reeves is expected to say: “Here is the deal:

“The next Labour Government will create a National Wealth Fund so that when we invest in new industries, in partnership with business the British people will own a share of that wealth and the taxpayer will get a return on that investment.

“Because conference, when I say I want to buy, make and sell more in Britain I mean it.

“That is a real plan for the climate. That is a real plan for growth. That is a real plan for levelling up.

“A zero carbon economy – made right here… made in Britain.”

The previouss move to make it a “reserve” option sparked a furious row, with Sir Ian Wood, chairman of the Energy Transition Group, labelling it as “a real blow to Scotland”.

The long-planned project was designed to take and store carbon dioxide from the Goldeneye field in the North Sea and the refinery in Grangemouth via existing pipelines to be stored in the north east. It was described as “shovel-ready”.

Shadow Secretary of State for Climate Change and Net Zero, Ed Miliband said: “It is time to take back control of Britain’s economic destiny by making sure that we build the industries of the future in our towns and cities. An economy by the many for the many.”

“The Conservatives have let good jobs go overseas, and watched our industries lose out as other countries get ahead in the global race. ”

“We say no more. Labour’s National Wealth Fund is based on a simple idea: that it is time to invest and build the wealth for this country, so we can lead the world in industries such as hydrogen, electric vehicles, green steel and offshore wind.”

“This is about good jobs that pay well, with strong trade unions, and with money that flows back into the pockets of the British people. ”