The Minerals Association (MPA) has written to the Chancellor of the Exchequer asking him to take action to mitigate the impact of rising energy costs on its members.
MPA is the trade association for the aggregate, asphalt, cement, concrete, dimensional stone, lime, mortar and silica sand industries.
It suggested four steps the Treasury could take to ease the growing burden on UK mineral companies:
- Temporary deferral of VAT payment is allowed Reinstate or replace red diesel rebate to cut fuel tax Extending the freeze period of composite tax indexation beyond April 2023
Take steps to address costs in energy-intensive industries such as cement and lime.
Robert McElvin, director of public affairs at M PA, said: ” Our members have seen their fuel and energy costs rise very significantly and rapidly, putting enormous pressure on them and their subsequent supply chains. Given the fundamental nature of the industry’s products and their fundamental role in the UK economy, the Chancellor of the Exchequer The pressure on the industry must be addressed.
“Earlier this year the former prime minister revoked our industry’s right to use red diesel. While we are committed to transitioning to non-diesel equipment in the long run, there is no direct alternative, so not only are we facing additional costs, but the timing of the rebate is also very bad. Action on fuel duty and VAT deferrals will be very helpful, as will long-term certainty on the combined tax. It is also crucial to advance support for energy-intensive industries that the government is already considering. “
Nadhim Zahawi succeeded Rishi Sunak as prime minister on July 5. He is widely expected to be replaced by someone who will be appointed as the new prime minister next week.
A story? Email [email protected]
