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Colchester construction firm “disappointed” over lack of a “green tinge” to the Budget

05 Mar Colchester construction firm “disappointed” over lack of a “green tinge” to the Budget

A Colchester construction firm is “disappointed” over the lack of a “green tinge” to the Budget to drive sustainable job and economic growth.

Laura Mansel-Thomas, partner at Ingleton Wood, a property and construction consultancy based in Colchester, said: “While we welcome the renewed pledge to accelerate the green industrial revolution we are disappointed by the lack of flagship support. We wanted to see more of a green tinge to the Chancellor’s Budget to drive more sustainable job creation and economic recovery.

“We’re often left frustrated by insufficient clarity on who exactly holds the purse strings when it comes to funding green energy. This hinders projects and stifles investment. It’s a handbrake that must be lifted on our roadmap to a greener future.

“Whilst we welcome the Chancellor’s comments on having a real commitment to green growth, our expectations were that the Government would go further, even despite the current Covid-related economic circumstances.

“We note the general desire with the formation of a new National Infrastructure Bank, which is set to have £12bn in capital with the aim of unlocking £40bn worth of public and private sector projects, to support a green industrial revolution.

“The devil will be in the detail and we need to see this backed up by concrete plans and transparency over access to funding and investment in order to provide adequate timescales for the sector to maximise the potential.

“We are committed to helping Essex become a flagbearer for renewable energy and will continue to help unleash our region’s huge potential for green energy, from electric vehicle charging to offshore projects in the North Sea.”