Today the Chancellor of the Exchequer presented her Autumn Budget 2025 to Parliament, which outlines the choices and decisions about the nation's finances. The UK Corporate Leaders Group has provided a rapid reaction to the contents of today's announcement.
Eliot Whittington, Chief Systems Change Officer, Cambridge Institute for Sustainability Leadership, and Director of the Corporate Leaders Groups, said:
“Against difficult circumstances, Chancellor Rachel Reeves has delivered a budget that can give the wider economy some stability whilst also maintaining the direction of travel to a cleaner, greener and more innovative economy.
Measured steps to bring in taxation of electric vehicles alongside efforts to support public transport and raise fuel duty in the medium term is hitting a tricky balance. Reducing energy bills whilst largely maintaining support for the transformation of the power system is welcome.
The most concerning measure is the simultaneous ending of the Energy Company Obligation whilst increasing financing for the Warm Homes Plan - it is essential this is implemented in a way that maintains development of the home efficiency sector and doesn't destroy capacity in this industry."
This quote was also featured in BusinessGreen.
Read Eliot's op-ed in Sustainable Views on what the Chancellor needs to do from the perspective of setting the UK up for a green and growing economy. Eliot's LinkedIn summary of the op-ed is featured below:
"I argued that (partly due to her own promises but also due to a set of wider challenges like high debt, sluggish growth, high public service demands, and persistent cost-of-living pressures) the Chancellor has a difficult task on her plate and may well be seen to have succeeded if she manages to deliver a budget that doesn't immediately self-destruct. But she and we should be more ambitious.
Despite the gloom, the UK retains significant strengths that could underpin long-term prosperity. As one of the world’s largest economies, it boasts strong institutions, an educated workforce, and a proven capacity for innovation. The real test for Rachel Reeves is not avoiding short-term failure building the basis for future (green) growth.
The UK has halved emissions since 1990 while growing its economy, built world-leading offshore wind capacity, and nurtured innovative new clean tech businesses. To build on this the government needs to grasp the nettle of energy prices in a way that doesn't undermine electrification of the economy. I also highlight proposals for EV road charges that risk undermining domestic manufacturers at a critical stage and rumoured cuts to energy efficiency programs that could perpetuate the stop-start approach that has long plagued the sector. We need consistent, long-term policy signals to unlock investment and maintain momentum.
Beyond energy, the budget should position the UK to thrive in emerging industries - from AI and digital technology to bioscience and advanced manufacturing. These sectors demand frameworks that encourage innovation while ensuring economic stability."
Read more about the Corporate Leaders Groups.
Learn more about CLG UK's engagement with policymakers here.