CBI survey shows 98% of British energy firms want post-Brexit investment framework

Setting out a post-2020 power sector investment framework is the top UK energy priority for the Government, with 98% of firms citing this as critical or important, according to a new CBI survey published today.

After access to skills and talent from the EU (91%), the top energy-related Brexit priorities are the UK’s future in – or out of – the Internal Energy Market (86% – rising to 92% for those who were energy providers), and access to funding, such as the European Investment Bank (75%)

Indeed, as Britain leaves the European Union, firms see access to skills and talent from the EU as the top priority for the digital, energy and aviation sectors in building a new relationship.

More than half (58%) of firms are not confident that energy infrastructure will improve

All energy providers surveyed (100%) said the Government needs to set out a plan to provide a clear and long-term framework for energy policy

And almost half (49%) of energy providers are dissatisfied with the delivery and policy environment, a rise from last year’s 42%.

Meanwhile, the risks of Scotland crashing out of the EU without the UK government securing a deal have been revealed in a damning report by the London School of Economics.

Figures show that every single part of Scotland, and of the UK as a whole, will be adversely affected even in the event of a soft Brexit with single market membership maintained. The impact of dropping off a hard Brexit cliff edge would be significantly worse.

Regional detail shows that Aberdeen would be the worst hit region, set to lose 4.5% in value of its goods and services (GVA) under a soft Brexit scenario (equivalent to £2.4 billion) or 7% (£3.8 billion) with a hard Brexit no-deal.

Edinburgh would lose 6% GVA or £5.5 billion if no deal is struck between the UK and the EU, while Glasgow would lose £5.4 billion.

Tomorrow (25 Oct 2017) Holyrood MPs will debate a Scot-Govt motion on ‘Scotland and EU-UK negotiations on Brexit’.

  • The 2017 CBI-AECOM Infrastructure Survey was conducted between 29 June and 3 August 2017, to which 727 firms replied. For the public polling, all figures, unless otherwise stated, are from YouGov plc. The total sample size was 1,668 adults. Fieldwork was undertaken between 21-23 July 2017.

25 Oct 2017

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