In a historic victory, the Labour Party has won the 2024 UK General Election, marking a significant shift in the political landscape. This outcome reflects the electorate’s demand for change, particularly in addressing the cost of living crisis and energy security.
Thomas Farquhar, co-founder and chief operating officer of Heatio, a Liverpool-based low carbon tech start-up, emphasized the central role of economic concerns in the election: “In the run-up to the election, cost of living was one of the top three issues for voters. For Labour supporters, it was the more important issue. The election result shows people want change.”
Farquhar highlighted the critical impact of high energy prices, stating, “High energy prices – a key driver of inflation – hurt the consumer most while strangling the economy. Yet, we have been dangerously reliant on fossil fuels, leaving us vulnerable to the whims of other countries ethically, ecologically, and economically. European countries which have decoupled away from fossil fuels scratch their heads as increasing numbers of UK residents fall into fuel poverty each winter.”
He also pointed to the potential of low-carbon technologies, which are already prevalent in other parts of Europe. “Low-carbon technologies such as heat pumps which are installed in millions of homes already across Europe, are the future, but people need social proof,” Farquhar noted.
The Labour manifesto’s promises to address these issues through renewable energy initiatives were a significant factor in their electoral success. “The Labour manifesto promised to lower the cost of energy through renewables, accelerating to net zero by making Britain a clean energy superpower. Labour recognises how critical it is to upgrade our creaking National Grid as more people buy electric cars and turn to renewables for home energy,” Farquhar explained.
Farquhar urged the new government to act swiftly and decisively: “After years of climate change and energy security being used as a political football, we now need the new government to take immediate action. Promises must be put into action. Time has run out to use energy security, lower bills and net zero as political footballs, we need a consistent, unified approach to this huge cost of living driver and national security issue.”
He called for enhanced support for clean technology adoption, especially as winter approaches. “More support is needed for people to adopt clean technology around the home. With winter just around the corner, now is the time for the new government to show strong leadership both immediately and in the long-term, and show the rest of the world that the UK won’t be left behind.”
Labour’s victory heralds a new era of policy focus on sustainability and economic relief. As the new government takes the reins, the nation’s eyes are on their next steps to fulfil these ambitious promises and lead the UK towards a more secure and sustainable future.
