Published On: Thu, Dec 6th, 2012

Industry reaction to Chancellor’s Autumn Statement

Industry reaction to Chancellor's Autumn Statement

Industry reaction to Chancellor's Autumn Statement

Industry reaction from Chris Dow, CEO, Closed Loop Recycling:
“I welcome the Chancellor’s announcements which aim to support small and medium sized businesses such as ours, particularly the 1% cut in Corporation Tax, the introduction of a new business bank and also the 10-fold increase in the annual investment allowance in plant and machinery, which will hugely benefit industry and help to create further jobs.”

“But what about Britain’s Green Economy? Have we parked carbon intensity targets for the Energy Bill? Does an 8 year austerity programme mean the Green Investment Bank is unable to raise funds and therefore slow our path to sustainable energy production? Green industry should be seen as an opportunity for job growth and industry reform rather than being treated as an economic cost. We are urging the government not to park the green economy for the next generation, but to ensure green businesses such as ours receive the right signals for investment and growth opportunities.“

“The government has already introduced wide-sweeping targets to boost recycling levels here in the UK, finally we have a destination for this journey of industry reform but these new targets need to work in tandem with the proposed MRF code of practice and a review of the current PRN system which is not providing the industry with a level playing field.”

“We call on the whole industry to work together to help the UK’s domestic recycling industry achieve DEFRA’s new recycling targets. The Government has presented us with an enormous opportunity that needs to be embraced right across the sector to ensure that we realise the goals of a robust and strong recycling sector.”