ECA responds to 2024 Spring Budget
In response to this week's Budget announcement by Chancellor Jeremy Hunt, leading engineering and electrotechnical services trade body ECA has welcomed the extra support for green energy, while expressing some concern over funds directed for infrastructure projects under the levelling up agenda.
ECA Head of Public Relations and Public Affairs Jane Dawson said:
"We welcome the boost in investment of £120M for the Green Accelerator fund to support the green energy supply chain, along with the promise of faster connections to the grid.
"Three quarters of electrical contractors are SME's, therefore we welcome the raising of the threshold for payment of VAT to a turnover of £90k, although with cost of living increases we had hoped the threshold would have been lifted higher. ECA Member firms with fleets of vehicles will be relieved to hear the duty on fuel has been frozen for a further year".
"While we welcome funds directed for infrastructure projects in the regions under the levelling up agenda, we are concerned this will benefit Members in some regions, while others will lose out. This could create a postcode lottery of demand for electrical contractors, which does not necessary reflect the workforce available."
This article was issued via Press Release as "ECA responds to 2024 Spring Budget" dated March 7, 2023.
--ECA
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