BSEE INDUSTRY NEWS BUDGET REACTION


Green light for environmental strategy is vital – Rexel UK


Julia Evans, Chief Executive, BSRIA:


‘ Industry wanted


a steady and balanced Budget, and that’s what we got. The Chancellor has avoided higher business taxes and costs – and indeed lowered them in a number of areas. He has taken action to lessen the burden of business rates and honed incentives for investment.


’


term strategy and investment in our critical infrastructure will the UK address the energy trilemma and keep the lights on, at a fair price and in line with our COP21 commitments. It’s encouraging to see support for developing demand‐side measures to reduce overall consumption levels and more effectively manage demand.


‘ ’


Rodney Turtle, Director of Public Policy and Government Affairs, Schneider


Only with a long W


hile last month’s Budget saw the Government


announce a Budget geared towards helping ‘the future generations’, renewables specialist, Rexel UK believes that a ‘comprehensive and swift’ environmental policy is required if we are to realise a low- carbon future.


Viewed as a mixed bag for the energy sector, the Budget saw Chancellor George Osborne reveal that the Carbon Reduction Commitment (CRC) will be abolished, with the lost revenue replaced by an increase in Climate Change Levy.


In addition, £730m was affirmed as committed to the renewables sector, the majority to be allocated to the development of ‘off- shore windfarms’, while at least £50million will be invested in energy storage and demand side response. There was no mention, however, of the Levy Control Framework,


mandatory carbon reporting or the Paris Climate Change summit deal which happened just last December (2015). Steve Everard, Head of Rexel Energy Solutions comments: “While we recognise that there are many wider social and economic issues that need


to be addressed, it is vital that the Government doesn’t pull back on energy policy and the vital progress which has been made in recent years.


“Of course, while it is disappointing to see the abolition of the Carbon Reduction Commitment, it is our hope that the extension to the Climate Change Levy will help to counteract some of the financial loss for businesses.


“Most positive for us was the commitment to energy storage which we believe will revolutionise the way power is used, providing users with round the clock access to a sustainable energy source and lessen our national dependence on the grid.


“Also, although the Chancellor has pledged to £730m to the renewables sector, the reality is much of this will go towards supporting offshore wind power – leaving little funding for those looking to invest in more mainstream


renewable and low carbon technologies.”


He adds: “While the Budget was perhaps not as green as anticipated, our hope is that the


Government will continue to develop its energy policy in line with the recent Paris agreement and the impending first stage of its carbon reduction targets.”


More industry reaction


Melanie Leech, Chief Executive, British Property Federation: "We welcome the suggestion of more frequent business rates revaluations, which we have long advocated. Frequent revaluations maintain fairness for ratepayers, who should expect to be taxed in proportion to the economic benefit that they derive from their property.”


Dr Diana Montgomery, Chief Executive, Construction Products Association:


“The government’s support for the National Infrastructure Commission is encouraging and the list of projects given the green light such as HS3, Crossrail 2 and numerous other schemes across the country will please everyone in the construction supply chain.”


Philip Simpson, Commercial Director, ReFood: “Today’s Budget is another signal that the environment and renewable energy is far from the top of this government’s agenda. It was thoroughly disappointing to see that renewable energy generators are hit once more as the Chancellor announces rises to the Climate Change Levy, which became applicable to such businesses for the first time in 2015.”


Alex Hirom, Construction and Engineering Partner, Bond Dickinson LLP:


"This is a good budget for the UK construction sector as the Treasury announces further initiatives to free up land for housebuilding; an increase funding for flood defences through an insurance levy; and a number of major projects including Crossrail 2 in London and Northern Powerhouse projects including HS3. The sector will welcome the Government's support for a pipeline of projects stretching into the 2020s."


6 BUILDING SERVICES & ENVIRONMENTAL ENGINEER APRIL 2016


Advertising: 01622 699116 Editorial: 01354 461430 IN BRIEF


Riello continues support for


cancer centre As part of its continued support for the Macmillan Woodlands Centre Appeal, Riello Ltd – the burners for boilers firm – has donated a further £1,000, bringing the company’s total donations to £3,500. The Appeal is raising funds for an extension to existing cancer treatment facilities at Hinchinbrooke Hospital near Huntingdon. This will increase chemotherapy stations from nine to 15 and provide two single rooms, making it easier for patients travelling from further afield for treatment.


Advanced Engineering call


for papers Easyfairs, organiser of Advanced Engineering UK 2016, the UK’s largest annual trade show and open conference for the high performance engineering sectors, has issued a call for papers. The show, which takes place at Birmingham’s NEC on 2 & 3 November 2016, is inviting submissions for its Open Conference, the largest open engineering


conference programme in the UK. For more information visit


www.advancedengineerin guk.com


It’s not just about


flood prevention… Floodex (Peterborough Arena, May 18-19), the trade event for flood defence and the water level management (WLM) sector will be looking at flood defence, prevention, mitigation and drainage. The show will also explore how building for resilience and future-proofing can also leverage economic, societal and environmental benefits. To register visit www.floodex.co.uk


Cooling chiller is longest serving


YORK machine A Johnson Controls’ competition to find the oldest working YORK chiller in the UK and Ireland has been won by a Borg Warner YORK machine that has been operating round-the-clock for more than 32 years. Installed in 1984, the year of the UK miner’s strike, the chiller provides process cooling for a Dundee-based semi- conductor manufacturer, as well as supplying chilled water for use in the site’s air handling units.


RAISING FINANCE A look at the alternatives


A new regular column from the fastest growing UK SME crowdlender in the UK


n the last issue we looked at why the traditional forms of raising finance are not working; namely bank loans and invoice discounting.


I


For the next two of these columns I will be looking at alternative ways to raise money for such things as expansion, new equipment or working capital. A loan facilitated by ArchOver can be used for all of these purposes.


Many of you may be familiar with the expression ‘crowdfunding’, where individuals post something they want to raise money for on the internet and those who are interested invest small amounts of money. Crowdlending, while using the same principle of obtaining money from more than one source, is much more highly regulated and provides proper business loans to companies that need finance.


We are a specialist in the field, but there are a number of other companies in this thriving sector, such as Funding Circle and RateSetter. The various companies have different rules and policies, but all of them involve arranging for individuals or organisations with money to invest, who are suffering from the current low interest environment, to lend directly to those who need it.


As an example, on the ArchOver platform we facilitate those with money lending directly to borrowers, providing businesses with a lump sum for a fixed term of up to 36 months, which can be extended if required. It can also be repaid or reduced at any time, without cost. The minimum borrowing level is set at £100,000 with no maximum. The loan is secured on the value of the debtor book and that is insured, allowing the borrowing company to lever off the creditworthiness of their customers. We call this ‘secured and insured’ lending.


While building services and environmental engineering companies are specialists in their fields, they are also businesses with all the problems of other businesses, so Angus Dent, of crowdlender ArchOver, is tackling some of your financial issues.


Companies can borrow up to 80% of the value of their debtor book or accounts receivables (ARs). Once the loan is made they must maintain their ARs at a minimum of 125% of the value of the loan. This allows businesses to plan with certainty, as funds are provided as a loan, a fixed amount for a fixed term. The simple-to-arrange loan requires no personal guarantees and, because it is secured and insured on the debtor book, borrowers can, if they need to, use other assets to raise further finance.


Next month we will look at further alternative finance sources, using these other assets.


www.archover.com


Financial engineering with ArchOver


VISIT OUR WEBSITE: www.bsee.co.uk


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