The UK Needs a Response to the IRA, Europe’s Green Deal: CIA

The Chemical Industries Association’s Chief Executive Steve Elliott said: “We continue to stress that more action is needed from Government to convince international investors that the UK is a competitive place to do business. Our survey shows that 73 per cent of members did not feel that the Budget and the capital allowance scheme will significantly impact business investment. The chemical industry would have liked to see more financial support and clearer guidance over the Net Zero transition and decarbonisation. The lack of any clear structure and competitive response to the American Inflation Reduction Act and the European Union’s Green Deal and Net Zero Industry Act is making the UK a significantly less preferred place for investment especially compared to North America, China, Germany specifically and other European countries generally”.