BCC Urges Chancellor: Cut Energy Costs, Plan North Sea Renewables Transition
The British Broadcasting Corporation (BBC) has urged Chancellor Rachel Reeves to prioritise cutting energy costs for firms and plan for the North Sea's transition to renewable energy in the 2024 Budget. The BBC also called for a new, stable fiscal regime to replace the energy profits tax, which they argue has reduced investment and confidence.
The BBC proposed not raising taxes that add to firms' labour costs and instead doubling down on trading relationships through economic diplomacy. They recommended expanding airport capacity at Heathrow, Gatwick, and Luton, and reviewing air passenger duty rates to support the UK as a global commercial centre.
Bosses called for a clearer regulatory regime for extraction and drilling, but stopped short of calling for a reversal of the ban on new drilling licences. The BBC warned that the UK needs to become more competitive internationally to grow its economy, as it is currently not the sum of all its parts.
The BBC's proposals aim to boost business confidence, encourage investment, and secure energy supply. They also seek to make the UK more competitive globally. The Chancellor is expected to consider these recommendations in the upcoming Budget.
Read also:
- Planned construction of enclosures within Görlitzer Park faces delays
- Controversy resurfaces following the elimination of diesel filter systems at Neckartor: A renewed conflict over the diesel restriction policy
- Foreign financial aid for German citizens residing abroad persists
- Following the fatal accident on Canal Street in Chinatown, New York City initiates long- desired safety enhancements.
