In his speech at the Confederation of Business Industry’s annual conference this morning UK PM Johnson said that the UK economy had reached a “pivotal moment” and could not go on as it was.
“We have to adapt our economy to the green industrial revolution; We have to use our massive investment in science and technology, and we have to raise our productivity and then we have to get out your way,” he told delegates.
The CBI, which claims to speak for a total of 190,000 UK businesses, learnt this morning that businesses and new homes in the UK will be required by law to install electric vehicle charge points from next year.
The government estimates the new regulation will create up to 145,000 extra charge points across England each year in addition to the 250,000 homes and workplace charges that the government has already supported.
The news was released in a statement from the Prime Minister’s Office ahead of the Johnson’s CBI speech and is designed to stimulate demand for EVs as the UK gears up to the end of sales of all new petrol and diesel cars by 2030.
The statement added that the legislation would mean consumers can buy new properties that are geared up for an EV future, while ensuring that charge points are readily available at new shops and workplaces across the UK – making it as easy as refuelling a petrol or diesel car today.
To incentivize innovation the Government has also announced that following a successful pilot with businesses, Innovate UK will deliver a new three-year programme of £150m in new flexible and affordable Innovation Loans to help British SMEs commercialise their latest R&D innovations.
While the loans are open to a variety of sectors, green businesses will be able to apply from early next year, many of whom have already benefited from the scheme during its pilot phase.
Past recipients of the loans – designed to be flexible and affordable – include Lancaster-based Nanosun, which develops and manufactures hydrogen-refuelling products for customers in the oil and gas and transport sectors.
The innovation loan is reported to have helped the company triple the number of high-skilled engineers it employs as well as to prototype and demonstrate its products.
The Government also confirmed £10m in funding for a first-of-a-kind new hydrogen project in the UK’s largest onshore wind farm near Glasgow.
The Whitelee green hydrogen project is set to develop the UK’s largest electrolyser, a system that converts water into hydrogen gas as a way to store energy and supply local transport providers with zero-carbon fuel.
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