Allocation of an additional £120m to build supply chains for offshore wind and carbon capture and storage has been welcomed by the electrical industry in Northern Ireland.
With offshore wind regarded as a key contributor to electrification and the UK meeting its net zero targets, the Spring Budget announcement has been applauded by engineering and electrotechnical services trade body ECA.
Chancellor Jeremy Hunt included the additional funding in his Budget for Long-Term Growth announced on March 6.
Also welcomed were an increase in the threshold for payment of VAT to a turnover of £90,000, potentially benefitting the three-quarters of electrical contractors who are SMEs, and a freeze on fuel duty.
However, concern was expressed over funds directed for infrastructure projects under the levelling up agenda.
Jane Dawson, ECA Head of Public Relations and Public Affairs, said, “We are concerned this will benefit members in some regions, while others will lose out. This could create a postcode lottery of demand for electrical contractors, which does not necessary reflect the workforce available.”
