In recent years, energy conservation and emission reduction has been a hot topic in Europe. According to European media reports, the British government announced plans to invest 4.5 billion pounds in manufacturing, aiming to make Britain a global leader in achieving net zero emission transformation. From 2025, these funds will be used to support industries such as electric vehicles, offshore wind power and carbon capture technology. Jeremy Hunt, the British Chancellor of the Exchequer, stressed that the goal is to focus the funds on areas where Britain has performed well or has the potential to perform well in the world.
Among them, the automobile industry will receive more than 2 billion pounds of total funds, which reflects the British government’s commitment to promoting the development and adoption of electric vehicles. The aerospace industry and zero-emission vehicles will also benefit from the investment of 1 billion pounds. In addition, the development of self-driving cars will receive 150 million pounds of funds.
In order to encourage clean energy manufacturing, the British government plans to invest 960 million pounds to establish a green industry growth accelerator. In addition, 500 million pounds will be allocated for life sciences to enhance the country’s ability to respond to health emergencies and make use of its leading research and development capabilities.
These huge investments in manufacturing have been praised by people in major industries. Mike Hawes, CEO of the Automobile Manufacturers and Traders Association, stressed that the fund sent a clear message that Britain is open to business and will stimulate the growth of a series of industries and create high-value employment opportunities and productivity. In addition, as the government prepares to submit its autumn statement, the Chancellor of the Exchequer is expected to announce measures to stimulate economic growth, including tax cuts to encourage business investment. In addition, the government is also considering tax relief for the hotel industry and small businesses.
Post time: Nov-21-2023