02/06/2023

UK energy trade associations warn Chancellor

The trade associations are calling for key steps in the Spring Budget to address this, including a reform of capital allowances, and financial incentives for investment in low carbon energy in response to those being offered by the US in its $216 billion Inflation Reduction Act and the European Union in its REPowerEU package.

Official Press Release RenewableUK:

Industry warns Chancellor that green growth is at risk unless he prioritises vital Budget measures

Wind Industry Profile of

Five energy trade associations representing over 750 companies have written a joint letter to the Chancellor Jeremy Hunt warning him that the competitiveness of the UK as a clean energy investment destination is at severe risk unless he takes key steps in the Spring Budget to secure green growth.

In the letter, the Chief Executives of RenewableUK, Energy UK, the Nuclear Industry Association, Scottish Renewables and Solar Energy UK warn the Chancellor that: “Despite our industry’s commitment to the low carbon energy transition, we are concerned that there is no clear government plan to deliver green economic growth and continue attracting clean energy investment into the UK”. It highlights a perfect storm of inflation, unfavourable exchange... ... More: Official Press Release RenewableUK