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Labour would back Tidal Lagoon, pledges Shadow Chancellor

John McDonnell was addressing the Labour party conference in Brighton Photo: PA

A Labour UK government would "absolutely commit" to building the Swansea Tidal Lagoon, the Shadow Chancellor has told the party's conference in Brighton. The project's backers are waiting to see if the Conservative ministers currently in charge will give them a high enough guaranteed price for electricity generated by the lagoon's turbines.

Only then can they hope to attract the £1.3 billion pound investment that's needed to construct the lagoon. In his conference speech, John McDonnell said Labour would get it built.

Labour will ensure we become world leaders in decarbonising our economy. With a publicly owned energy supply based on alternative energy sources. Where the Tories have dithered and delayed, to deliver zero-carbon electricity, we will absolutely commit for example to building projects like the Swansea Tidal Lagoon.

– Shadow Chancellor John McDonnell MP
The proposed tidal lagoon requires an investment of £1.3 billion Credit: Swansea Bay Tidal Lagoon PLC

Mr McDonnell also promised much greater investment in the railways, including further electrification. He didn't mention the line between Cardiff and Swansea, where electrification has been cancelled by the UK government, although he did promise to include the route between London and Cornwall.