New opportunities for zero emissions transport
Director in KPMG's Infrastructure Advisory Practice, Ben Foulser comments on today’s Budget announcement
Ben Foulser comments on today’s Budget announcement
Ben Foulser, Director in KPMG's Infrastructure Advisory Practice, comments on today’s Budget announcement:
“Battery electric is charging ahead as the solution of choice for cars and vans, but there is significant work still to do to transition HGVs, coaches and the maritime and aviation industries. Investment in Aberdeen’s Energy Transition Zone, Holyhead’s hydrogen hub and Humberside port infrastructure, contributes to the UK’s position as a leader in complex zero emission transport solutions. But increased agility in regulation, acceleration of trialling and a favourable long-term trade environment must hand in hand with these investments.
“Zero emissions transport represents one of the biggest opportunities to help the UK achieve its Net Zero 2050 commitments but requires R&D and innovation. The announcement of the Breakthrough Future Fund, super-deduction capital allowances, small business productivity improvement grants and significant tax reliefs in Freeports represent exciting opportunities for UK businesses developing zero emissions solutions. Refreshed strategies should be looking to capitalise on these opportunities and position UK firms as leaders in their fields.”
Follow us on twitter: @kpmguk #Budget2021 and #KPMGBudgetLive
For further information please contact:
KPMG Media Relations
Tel: +44 (0) 207 694 8773
KPMG LLP, a UK limited liability partnership, operates from 21 offices across the UK with approximately 16,000 partners and staff. The UK firm recorded a revenue of £2.3 billion in the year ended 30 September 2020.
KPMG is a global organization of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 147 countries and territories and has more than 219,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.