'Sort out business climate,' chemicals group tells Chancellor

London – The boss of the UK’s £60-billion chemicals and pharmaceuticals industry has urged the Chancellor George Osborne to put manufacturing at the heart of the UK’s economic recovery by addressing in his first budget the UK’s “increasingly uncompetitive” tax and regulatory climate for doing business.

In a speech to business leaders in the sector, Steve Elliott, chief executive of the Chemical Industries Association said: “My message to the Coalition Government is simple: the chemical and pharmaceutical industry - contributing over £30million every day to the UK balance of trade - must be at the heart of their plans to rebalance the economy.

“If we are all in this together - as I believe we are - then our industry’s economic contribution, high quality skill base, commitment to innovation and unique ability to deliver a low carbon future all needs to be freed from the shackles of an increasingly complex and uncompetitive climate for doing business.”

Elliot went on to focus on the energy and climate change arena where, he said, “well-meaning intentions regarding security of supply and emissions reduction are in sharp contrast to the cumulative impact of related policy measures on energy prices that we see running ahead of our competitors’ costs.”