Chemicals group targets UK energy policy

London – The UK’s £50 billion-turnover chemical industry has called on the government to “finish the job” on the energy agenda and to maintain high regulatory safeguards.

The Chemical Industries Association’s chief executive Steve Elliott spoke ahead of the publication of the chemical industries submission to Chancellor George Osborne ahead of the Budget on 18 March.

The association’s 2015 Budget submission pointed to UK energy costs, the need to maintain and grow government commitment on innovation and, unusually for a business organisation, the importance of strong regulation and regulators in health, safety and environment.

Elliott said: “Right now there are the three points of energy, innovation and regulation are uppermost in the minds of those who take decisions in chemical businesses on where to invest. We are a truly global industry and companies have a choice on where they choose to do business. I want that business to be conducted from and in the UK.

“Any weakening of financial support and political direction would cost our country not just businesses. In regulatory terms of course business wants to be pragmatic but the HSE agenda in chemicals is fundamentally important, a reduction in the right balance that needs to be struck by efficiency gains and appropriate resource will lead to other less responsible businesses pushing their luck on an established and working climate on the UK.