The global site of the UK's leading magazine for automation, motion engineering and power transmission
29 March, 2024

LinkedIn
Twitter
Twitter link

Gambica calls for tax credits for energy-saving technologies

15 June, 2011

Gambica’s chief executive, Dr Graeme Philp, is calling on the Government to introduce a tax credit system to encourage investment in energy-saving technology.


Responding to the Government’s recently announced fourth carbon budget, Philp (above) argues that, while there is a need to cut carbon emissions, the Government must ensure that UK businesses remain on an equal footing with the rest of Europe. He believes that putting energy-saving technology in the spotlight will help achieve this.

“The carbon budget contained a lot of very sensible ‘what’, but not enough ‘how’,” Philp says. “Energy-saving technology is Europe’s biggest energy resource. I believe that creating the right environment for businesses to learn about its implementation should be a prime carbon objective.

“There are tried-and-tested forms of technology that can help the UK meet the Government’s re-aligned target of a 50% emissions cut, averaged across the years 2023 to 2027, compared with 1990 levels,” he adds. “It’s my belief that a tax incentive, probably in the form of a highly targeted credit, would be an excellent way of encouraging participation from business and industry.”

Dr Philp also says that:
•    the aim should be to build towards a sustainable manufacturing economy that both reduces the UK’s carbon footprint and re-establishes its engineering industry on a global footing;
•    the Government should work more closely with trade bodies with energy-saving expertise; and
•    the Government should encourage the replacement of the ageing equipment used by many British manufacturers by modern, energy-efficient alternatives.

Gambica is the trade body that represents the UK’s control, automation, instrumentation and laboratory technology industries.




Magazine
  • To view a digital copy of the latest issue of Drives & Controls, click here.

    To visit the digital library of past issues, click here

    To subscribe to the magazine, click here

     

Poll

"Do you think that robots create or destroy jobs?"

Newsletter
Newsletter

Events

Most Read Articles