Following the Prime Minister’s speech this afternoon announcing a series of changes to the UK’s net zero policy, CIA Chief Executive, Steve Elliott said:
“The UK has entered a quite critical phase, post-Brexit, post-Covid and with sluggish growth of just 1% projected throughout 2024 and at the same time the size of the UK economy remaining below its pre-pandemic level, clarity is needed. A delay would only undermine UK economy growth, slow us down in the race to net zero consequently putting off investors and damaging UK credibility with business. Increased and extended uncertainty does nothing to encourage net zero related investment for companies and sectors that are critical to its delivery. Businesses are already faced with increasingly competitive location choices for those investments, so anything that delays clarity over U.K. policy, regulation and funding will further challenge positive decisions on much needed investment for our country and economy”.