Sam Richards, founder and campaign director of pro-growth campaign group Britain Remade said..
On the announcement of Full Capital Expensing for the next three years:
“This will boost investment in renewables, such as offshore wind and solar, increasing energy security while making us more competitive when other countries are pouring significant funding into supporting clean energy and renewable technologies.
“But investments require planning. Businesses need to know they can rely on investment reliefs being there in three years’ time. This matters when a manufacturing business is looking at updating their machinery or a company is planning to invest £100m in renewables and clean technologies; this is why the Chancellor should move quickly to make the new system permanent.
“With the vast majority of major clean energy projects being developed outside London and the South East, increasing investment in clean energy infrastructure will deliver a significant economic boost and job creation in Britain’s former industrial heartlands.”
On Great British Nuclear and Small Modular Reactors:
“All the money in the world won’t make a difference if it takes Great British Nuclear years to release a list of sites where Small Modular Reactors could be built. This list should include all existing nuclear power station sites and those where reactors have been decommissioned; it should also include all former coal powered power stations as well.
“These new nuclear reactors have the potential to deliver significant amounts of clean energy, but the regulatory approval process needs to be streamlined so that fleets of these reactors can be brought online as quickly as possible. “
On energy bills:
“Households will welcome the news that the energy price guarantee will be extended for three months – but this simply freezes bills at record high levels. If the government wants a vaccine to the energy crisis and not just an extension of furlough, they should lift the ban on the cheapest source of power – onshore wind – as soon as possible.”
