Energy UK boss slates Osborne’s budget

Last week’s budget has been branded as “disappointing” for energy by the boss of Energy UK. Interim CEO Lawrence Slade told ELN: “It’s a budget that raises some serious questions, particularly […]

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Last week’s budget has been branded as “disappointing” for energy by the boss of Energy UK.

Interim CEO Lawrence Slade told ELN: “It’s a budget that raises some serious questions, particularly the Climate Change Levy exemption and its closure.”

He said it’s going to affect businesses “right across the spectrum” and will have “major impacts on cash flow”.

Mr Slade said the first Tory budget in 19 years was sending out the wring signals to investors.

He went on: “This is a market where we need to attract tens of billions of pounds and I think the recent policy changes are just sending the wrong signals out.”

 

Fuel Poverty 

One of the major strands of the budget was the reform of the welfare system with cuts to tax credits. Many critics have said this will leave poor families struggling even more to pay energy bills.

Addressing this point Mr Slade said physical trials are being done in order to help those in fuel poverty.

He said: “What I mean by that is how we can actually use new technology like smart metering for example to start bringing in new innovative products which will help people understand and use their energy more effectively.

He added there needs to be a broader discussion with government looking at how money is used for energy efficiency.

He went on: “If we’re going to be spending a billion – a billion and a half a year – on energy efficiency, let’s make sure we’re targeting it at those people who need it most.”