In an hour long speech to the House of Commons, the Chancellor showed support to the renewables sector through tax incentives, boosting funding for the Green Investment Bank and reform of the planning system to assist sustainable development.
Kevin Craig, Managing Director at PLMR commented,
“Today’s Budget reaffirms the UK’s position as a world leader in the transition to a low carbon economy, with the introduction of a floor price for carbon and a substantial boost in investment.
“Planning revisions will also ensure that essential sustainable development is not paralysed by the system.
“We need to move quickly to ensure that we are giving business and industry the support that they need to create the renewable infrastructure of the future.
“The Green Investment Bank will go a long way to deliver this support for low-carbon whilst creating much needed new jobs.