Kelly Becker, president at Schneider Electric UK and Ireland, Belgium and Netherlands, has released a statement regarding the Autumn Budget.
Kelly said: “The government has made good progress to support UK business and manufacturing. Schneider Electric welcomes the commitments to deliver an Industrial Strategy and the Budget’s commitments to maintaining funding for the Industrial Energy Transformation Fund, the Public Sector Decarbonisation Scheme, and Made Smarter. We also welcome clarity on the future tax landscape, including a cap on Corporation Tax at 25% for this Parliament and retention of full expensing as well as a commitment to explore extending it to leased assets when fiscal conditions allow. These measures will support manufacturers and wider business to continue to invest in the UK.
“However, we would have liked to see commitments to supporting the manufacturing supply chain that will play a key role in delivering the industrial and green growth ambitions set by the government. Whilst we welcome the support for residential and public sector building decarbonisation, the UK also needs a clear roadmap for decarbonising the commercial and industrial sectors.
“Finally, at a time when UK manufacturers are struggling to hire skilled workers and compete with the EU and the US, we need measures that will support business and economic growth. We question how increasing the cost of employment is aligned with the government’s mission to grow the economy and deliver prosperity.”