Spending review leaves questions unanswered – Morton

ADBA PRESS RELEASE

Reacting to the spending review announced by the Chancellor today [26 June] Charlotte Morton, chief executive, ADBA, said:

If the Chancellor is serious about growth, he will embrace green. All the evidence shows low-carbon industries and technologies growing despite the wider economic malaise, and business groups such as the CBI have been clear about the opportunity which exists not only to provide domestic growth and jobs, but to build the infrastructure and expertise which will bring export markets for UK technology. The AD industry alone has grown 46% in the past year.

 

When DECC announce measures to stimulate growth in the energy sector tomorrow, renewable energy needs full-throated support. The Chancellor said today that he would “provide the certainty [energy] investors are crying out for”, but the postponement of a 2030 decarbonisation target in the Energy Bill and uncertainty on Feed in Tariff budgets are symptomatic of failure on this to date. If Mr Osborne fails to fulfil his promise it is jobs and growth which will suffer as a consequence.