NICEIC welcomes the positive changes in the UK Government’s Spring 2024 Budget announcement, but urges the government to take further action to support the industry's future.
NICEIC welcomes the positive changes in the UK Government’s Spring 2024 Budget announcement, but urges the government to take further action to support the industry's future.
The electrotechnical industry is expected to welcome the £120 million boost to the Green Accelerator Fund, with many believing it will significantly aid the UK's journey towards net-zero emissions.
Promises of faster grid connections also sparked optimism. This translates to new business opportunities, improved services, and potentially lower costs for everyone involved.
NICEIC-certified businesses, primarily small to medium sized enterprises (SMEs) and sole traders, are expected to find relief in the increased VAT threshold of £90,000 and the continued fuel duty freeze.
However, NICEIC Head of Standards, Dani Putney voiced more needs to be done: “While we acknowledge positive developments, significant gaps remain in supporting the industry’s future. The budget falls short on crucial measures for a green transition. Notably absent are clear policies for decarbonising public assets, homeowner energy efficiency improvements, and addressing the growing green skills gap. Additionally, more support is needed for UK businesses grappling with inflation.”
While these measures are a step in the right direction, it’s clear more needs to be done. Without a comprehensive strategy to decarbonise public assets, empower homeowners, and bridge the green skills gap, achieving net-zero emissions will remain a challenge.
To find out more visit https://www.gov.uk/government/publications/spring-budget-2024
