Process industry awaits outcome of first Autumn Budget
21 Nov 2017
As Chancellor Philip Hammond delivers the UK’s first Autumn Budget in 20 years, process industry leaders are looking for indications of a renewed government commitment to their sectors.
Among the possibilities previously highlighted that could have significant impact are:
Automation:
- investment in electric car charge points
- boost for clean car purchases
- relaxation of driverless car test regulations
Skills: £80 million to boost computer skills and hire 8,000 IT teachers
Oil and Gas: Transfer of tax relief on North Sea decommissioning costs to new oilfield owner
Environmental: Commitment to discuss single use plastic tax
Industry 4.0: Multi-million pound investment in AI
Communications: Possible £160 million for 5G mobile network development
Productivity: Distribution of monies from National Productivity Investment and Industrial Strategy Challenge funds
A report on the 2017 Exchequer announcement, with industry responses, will follow the budget speech at www.processengineering.co.uk.
