Amy House responds to Autumn Budget Announcement

"Yesterday’s Budget sends a mixed signal for businesses and the net-zero transition. The government’s continued commitment to clean power and measures aimed at reducing energy costs for households and businesses are welcome, particularly at a time when high energy prices remain a major challenge to competitiveness. The new focus on cheaper energy and industrial electricity costs recognises what businesses are already experiencing: affordable, secure clean energy is essential for growth.

The reductions to funding for the Warm Homes Plan and for hydrogen and carbon capture projects risk slowing progress in areas that are critical to the UK’s long-term decarbonisation ambitions, with heat pump installations booming under the current scheme. Businesses need confidence, consistency and long-term policy certainty to invest in low-carbon technologies, supply chains and skills.

For UK businesses, the key message is that sustainability remains a major economic opportunity. Despite some difficult trade-offs in this Budget, the direction of travel towards a lower-carbon economy has not changed. Organisations that continue to improve energy efficiency, reduce exposure to fossil fuel price volatility and invest in future-ready products and services will be better placed to remain competitive, resilient and attractive to customers, investors and talent in the years ahead."

- Amy House

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