Budget missed opportunity for investment in clean industries

“Whilst the slight increase in the Green Industries Growth Accelerator (GIGA) funding will be welcome to business, it’s a small measure for one of biggest opportunities for injecting growth into the economy. The net zero economy grew 9% last year, whilst the wider economy was stagnant [1]. The Chancellor appears to have not got the memo. At a time when the US and EU are competing over investment clean industries, there was little in here to attract investment in clean industries.

"Speeding the deployment of renewables, the insulation of homes, the rollout of heat pumps and the uptake of EVs would also boost our energy security, protecting the UK from volatile oil and gas prices. The OBR has today pointed out that disruption in the Middle East could lead to a surge in energy costs and lead to the borrowing of billions, billions on top of those that the Government needed to cover the current gas crisis."