Nigel Rees, GGF Group Chief Executive, didn’t believe the budget had a great significance for the glass and glazing industry, despite plans to provide £15b in funding for infrastructure projects.
He said: We would much rather have seen that kind of commitment for house building projects and energy efficiency programmes that would attack the UK’s energy efficiency issues and the growing housing crisis.
George Osborne described his Summer Budget as one which puts economic security first and one which is for working people’.
The Chancellor stated that the economy is fundamentally stronger and that living standards are rising strongly.
He described his announcements as a big budget for a country with big ambitions’.
The Budget included a number of positive steps for SMEs, including cutting corporation tax by 2% over five years, increasing the permanent level of Annual Investment Allowance (AIA) for plant and machinery and reducing SME’s National Insurance contributions.
Despite welcoming the announcements, Nigel Rees was unimpressed that the Chancellor did not address key issues for the energy sector and governmental scheme to encourage the uptake of energy efficient measures.
It was particularly disappointing that any plans to incentivise homeowners to increase energy efficiency in their homes were not even mentioned in this Summer Budget.
The Government’s own target reductions for carbon emissions are high yet there seems to be a complete lack of intent to actually achieve them, he added.
There is already considerable uncertainty on the future of Green Deal and ECO (Energy Company Obligation) and with no mention in the budget, it is hardly inspiring for property owners looking to invest in energy efficient measures to improve their homes.
The Glass and Glazing Federation
40 Rushworth Street
t: 0207 939 9101
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