Posted on: 01/11/2016
The Confederation of British Industry (CBI) has called on Chancellor Philip Hammond to use his maiden Autumn Statement to provide “clarity and stability” on energy policy.
The CBI wants the UK Government to:
- set out the timing for the next Contracts for Difference auction;
- provide clarity on Levy Control Framework funding and maintain the post-2020 carbon Price Floor freeze;
- and reaffirm the fiscal programme set out for North Sea oil and gas operators.
The CBI added: “The culmination of policy changes in the last year has led to investor confidence being damaged.
“It is crucial that the Government offers long-term stability on energy and climate change policy.”
£425bn of investment
More broadly, the CBI wants more than £425 billion of infrastructure investment to be delivered more quickly.
Carolyn Fairbairn, the Director-General of the CBI, said: “The Chancellor should capitalise on the UK’s core strengths, setting out a pro-enterprise agenda that instils confidence and kick starts investment.
“With huge variations in productivity between different parts of the country, the top priority must be to set out a programme that will get our regions firing on all cylinders and supports businesses to innovate, invest and create jobs in the years ahead.”
> Read the CBI's demands in full