Experts have pointed out that the recent Budget missed a crucial opportunity to invest significantly in clean energy industries.
Alasdair Johnstone from the Energy and Climate Intelligence Unit expressed disappointment, noting that while there was a slight increase in Green Industries Growth Accelerator (GIGA) funding, it did not adequately address the potential for economic growth in the net zero economy, which grew by 9% last year.
Alasdair Johnstone from the Energy and Climate Intelligence Unit said: “The Chancellor appears to have not got the memo. At a time when the US and EU are competing over investment clean industries, there was little in here to attract investment in clean industries.
“Speeding the deployment of renewables, the insulation of homes, the rollout of heat pumps and the uptake of EVs would also boost our energy security, protecting the UK from volatile oil and gas prices.
“The OBR has today pointed out that disruption in the Middle East could lead to a surge in energy costs and lead to the borrowing of billions, billions on top of those that the government needed to cover the current gas crisis.”
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