As reported by nebusiness.co.uk, the Chemical sector is the hidden part of the UK economy and could help lead us out of recession.
Taking a step back, it is clear to see that the Chemical industries provide all the materials that are used to power £880k of the UK economic activity. It is therefore important that the Government recognises the key role that the chemical industries plays by when considering investment in companies working in the sector. After all, dampening down investment in this sector could hamper the UK’s ability to innovate and discover new products which are key to our economy.
In addition, according to nebusiness.co.uk, the Government must consider the impact of it’s domestic energy and climate change measures on these energy intensive industries. The major chemical manufacturers are fully aware of their responsibility to play their part in increasing energy efficiency and climate change adaption, and as a result have made major steps to become more energy efficient. If inappropriate legalisation is enforced, it will undermine the government’s efforts to attract investment in the UK.
In a bid to tackle these issues, the CBI will be working with the chemical industry across Government departments to highlight the important role the sector plays in the UK economy and the steps required to help ensure it’s success.
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