NEWS / EIC News / Autumn Statement: Focus on Innovation opportunity for industry

EIC News

17 NOV 2022


Despite challenging macro-economic picture, some progress for environmental sector.

New Chancellor Jeremy Hunt has delivered his first fiscal event today. The Autumn Statement outlined a range of spending cuts and tax rises – heavily previewed by the media over the last few weeks.

Guto Davies, head of policy at EIC comments: “Energy, infrastructure, and innovation all featured heavily – an important signal to our industry that it is seen as a key partner and core to driving economic growth. The focus on innovation provides a platform for EIC members to showcase how the environmental sector can support clean growth and wider goals to decarbonise our economy.”

“Delivered during the final days of COP27, the Chancellor reaffirmed the Government’s committed to the Glasgow Climate Pact agreed last year at COP26, including a 68% reduction in our emissions by 2030. This is an important commitment, but the industry knows that words alone won’t help us reach our international obligations. Now is the time to redouble our efforts and for government to work with industry on solutions."

“Members will also have been pleased with the £6 billion allocated to improving energy efficiency in homes, doubling previous commitments. This is a significant step following the government’s Energy Security Strategy, released earlier this year.

“Members will also be interested in the Environmental Regulatory Review announced, where we will need to ensure protections stay strong. While the planning changes and ongoing commitment to accelerating significant infrastructure projects is good news, we will want to see no weakening for Environmental Impact Assessments in this change.”

We've launched a new member-survey following today’s announcements, so please do take a few minutes of your time to share your views of the Autumn Statement with us.

To help members digest all of today’s news and announcements, EIC’s policy team will soon be sharing an exclusive briefing with members. Please check your inboxes later today.