During the Autumn Statement 2023 speech delivered by Chancellor Jeremy Hunt, the United Kingdom announced new measures to boost the development of clean energy in line with the region's commitment to the energy transition. Chancellor said the government will now support UK businesses with 110 growth measures including cutting planning red tape and speeding up access to the national grid.

"It is taking too long for clean energy businesses to access the electricity grid. So, after talking to businesses such as National Grid, Octopus Energy and SSE, we today publish our full response to the Winser review and Connections Action Plan. These measures will cut grid access delays by 90% and offer up to £10,000 off electricity bills over 10 years for those living closest to new transmission infrastructure. Taken together these planning and grid reforms are estimated to accelerate around £90 billion of additional business investment over the next 10 years," Hunt declared during his speech.

For the advanced manufacturing and green energy sectors, the government recognized that international investors have asked the government for a longer-term strategy for their industries.

So alongside the Secretaries of State for Business and Commerce and Energy Security and Net Zero, Hunt announced the publication of new plans. He confirmed that £4.5 billion of support will be made available over the five years to 2030 to attract investment into strategic manufacturing sectors.

This includes, among other things, £2 billion support for zero emissions investment in the automotive sector, something that has been warmly welcomed by Nissan and Toyota and £960 million for the new Green Industries Growth Accelerator focused on offshore wind, power grids, nuclear, CCUS and hydrogen. "These targeted investments will ensure that the UK remains competitive in sectors where we are already a leader and innovative in areas where we are not," Hunt said. He further noted that this support alone will attract approximately £2 billion of additional investment each year over the next decade.

Industry welcomes the statements

Responding to the Chancellor’s Autumn Statement, RenewableUK’s Chief Executive Dan McGrail said that "there’s a strong focus in Chancellor’s Autumn Statement on accelerating green industrial growth. His announcement on permanent full expensing will provide a much-needed degree of long-term certainty for investors in green technologies, helping to make the UK an attractive destination for investment in clean energy projects and manufacturing".

McGrail acknowledged that this, combined with with the announcement of £960 million for a Green Industries Growth Accelerator to support clean energy manufacturing in the UK, 2will help us to build up new supply chains in Britain at a time when international competition for investment in clean technology manufacturing has never been more intense. The decision to extend tax relief on freeports from five to ten years will help us to revitalise coastal communities by encouraging new investment in offshore wind manufacturing, including factories servicing innovative floating projects. Industry estimates that overall the offshore wind supply chain could boost the UK's economy by £92bn by 2040".