November 27, 2023 Autumn Statement 2023

Wayne Carter, managing director of Telford manufacturing company Fabweld Steel Products, said the Chancellor’s funding boost for the manufacturing sector was a “pleasant surprise” and particularly welcomed the focus to support plans for net zero transition.

The company is committed to operating in a sustainable way and reducing its impact on the environment and has installed solar panels and implemented changes to reduce direct emissions and the emissions related to its energy use.

Wayne said: “The Chancellor’s £4.5bn investment programme shows a real commitment to the industry. But it’s his £960m Green Industries Growth Accelerator that’s really caught our eye. This could prove invaluable.

“Supply chain issues caused by Covid and volatile energy prices highlighted how vulnerable our industry was to geopolitical and world events. That’s why we wanted to take back control – with investment in the greenest way possible – to benefit the planet, the business, customers and employees.

“We’re now seeing our commitment to clean energy at FSP paying off, but we’ve been lobbying local government and parliament for support for a while now, so to feel heard is a huge relief.

“But the fight’s not over yet. All we can do is hope that this investment proves to be transformative for the sector. The UK remains a world-leader in cutting emissions, having decarbonised faster than any G7 country since 1990, but we’ve still a long way to go for manufacturing to play its part in achieving Net Zero by 2050.”