Labour: Energy will become financial crisis

The Labour Party is warning that energy will be a major financial crisis in ten years' time.

The party said major policy shifts are needed to chart economic recovery and prepare the country for a world where there is a shortage of fossil fuels.

The party said tens of thousands of construction jobs could be created now with retro-fitting of non-efficient homes, and a rapid move to wind and wave energy.

Spokesperson Liz McManus said any homeowner taking up retro-fitting would pay for it out of the savings they'd make on their utility costs.