Business leader urges Labour to stand by £28bn pledge for green economy

Former UK head of Siemens says Britain faces steep decline without such investment, a view echoed by other leading experts

• What is Labour’s £28bn green plan – and could it be shelved?

Labour’s proposed investment of £28bn a year in the low-carbon economy is an absolute minimum, a leading business figure has said, adding that without green investment on that scale the UK will face steep decline as a result of crumbling infrastructure and stagnating industry.

Jürgen Maier, the former UK head of Siemens, the German industrial giant and major investor, said massive investment was needed to rebuild the UK economy and make it fit for the future, and that it should concentrate on low-carbon energy, transport and industry.