In his Pre-budget report, the UK chancellor effectively indicated that he would, by means of changes in tax rules, increase the cost of UK manufacture of essential basic materials for the construction of wind turbines, solar panels, photovoltaics, insulation & advanced thermal glazing. The flat & fiberglass industry in the UK makes products which either reduce energy consumption or actually generate green, renewable electricity. Without these products, listed in the UK Low Carbon Transition Strategy, it is impossible for the UK to meet its targets. All UK businesses, including the flat & fiberglass sectors, pay Climate Change Levy, but are eligible for an 80% relief if they meet government-agreed, tight, energy reduction targets, something that the glass industry has consistently done despite continued target tightening over the past 10y. The industry also invested heavily in the production of coated glass needed to meet the new mandatory building regulations to combat climate change, and is now trying to invest in the production of essential low iron glasses for solar applications. The industry also purchases carbon credits thus diverting money into the carbon trading markets for others to take advantage of where it is actually possible under the laws of physics to make such savings.
