Ben Lynch, Director and Energy Practice Lead at Anthesis, comments on the UK Government’s ‘mini budget’ and its business impact amidst the global energy crisis:
“This week’s announcement from BEIS and today’s ‘mini budget’ provides welcome intervention and much needed support for businesses. One of the immediate concerns for businesses are rising energy prices, and the Government is doing little to incentivise energy efficiency or the transition to onsite renewable generation, which would have the combined benefit of making businesses more resistant to energy price rises and support the transition towards the UK’s legally binding climate goals.
“There is also the sense that the Government are shielding businesses from rising energy prices in the short-term, but they have little in the way of a sustainable plan. As prices are set to remain at unprecedented high-levels and geopolitical instability continues to expose the fragility of our energy system, we need to begin questioning what happens beyond March 2023.
“The 6-month support package leaves businesses with a window of opportunity. They should seize the initiative and invest in addressing their energy efficiency and on-site generation for a more productive, sustainable, and resilient future, and to better address any further potential energy price challenges down the line.”