ERA’s response to the Budget

Following the 2021 Budget, ERA suggests that the Autumn Spending Review needs to focus on measures to address the great challenge of our generation - climate change.

Published On: March 4, 2021
Effects of climate change

“ERA fully appreciate’s the Chancellor’s decision to use this week’s Budget as a renewed commitment to the UK’s recovery from the pandemic, and we support the ongoing efforts from the Treasury to support those hardest hit by the economic strains of the last year.

However, time is running out to take action to address the greatest challenge of our generation – climate change. With the UK hosting COP-26, the country has a unique opportunity to set a global precedent on green innovation,  by focusing on financing projects which are proven to accelerate our journey to net zero. 

The Autumn’s Spending Review needs to focus on building back from the economic struggles of the last 12 months, and the Chancellor must prioritise programmes that combine regional job creation with initiatives that help to fight climate change. ERA can help to support this with our ‘Big Ideas’ proposal which is forecasted to create almost 7,000 jobs in the Midlands, and deliver an additional 1.5bn GVA to the Midlands economy – this will help with the levelling-up of the Midlands as well as continuing our vital work across the majority of priorities listed in the Prime Minister’s Ten Point Plan.

We look forward to working closely with the Treasury and their colleagues within the department for Business, Energy and Industrial Strategy right through until the Autumn to secure the vital funding needed to support ERA’s proposal, which will put the Midlands and UK at the very forefront of energy innovation.”

Read more about ERA’s Big Ideas proposal.