23 Jul 2024


Gambica calls for tax credits for energy-saving technologies

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.