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NEWS CBI SAYS THE GOVERNMENT MUST ACT TO AVOID RECESSION W
ith the cost-of-living crunch showing no sign of abating, airports struggling to cope, national rail strikes taking place and Groundhog Day battles with the EU over the Northern
Ireland Protocol, there is real risk that the economy stays a ‘distant second to politics’ this summer. The CBI’s outlook suggests growth will soften as household
spending turns downwards amid dented business and consumer confidence. As a result, the CBI has downgraded its GDP growth outlook significantly, to 3.7% in 2022 (from 5.1% previously) and 1.0% in 2023 (from 3.0% previously). High inflation is the primary source of weaker growth. CPI inflation
reached a 40-year high in April (9%), driven higher by a cocktail of challenges – ranging from supply chain pressures, rising commodity prices and war in Ukraine. Inflation is expected to remain high into Autumn, rising to another
peak in October (8.7%), given a likely rise in Ofgem’s energy price cap. The result is a historic squeeze in household incomes, which will lower consumer spending. This in turn will weaken GDP growth towards the end of this year and into the first half of next year. Tony Danker, CBI Director-General, said: “Let me be clear – we’re
expecting the economy to be pretty much stagnant. It won’t take much to tip us into a recession. And even if we don’t, it will feel like one
for too many people. He continued: “There is only a small window until recess. Inaction this
summer would set in stone a stagnant economy in 2023, with recession a very live concern. We need to act now to install confidence. This can wait no longer.” What needs to be done this summer: • Build momentum behind business investment ahead of the
Autumn Budget • Boost confidence in the economy • Take immediate steps to alleviate labour and skills shortages Rain Newton-Smith, CBI Chief Economist, said: “Business and
government must work together to seek growth globally. As demand shrinks, competition for revenue increases. UK business must be more confident in identifying new markets and utilising all the tools at their disposal – be it from the private sector or public sector. “Government also has an integral role to play. Against the
backdrop of the rising cost of doing business and continuing supply chain pressures, easing trade flows is in everyone’s interests. It’s not just about lowering non-tariff trade barriers in Europe and signing FTAs.” You can find the full report here:
https://processandcontrolmag.co.uk/government-must-act-on- business-investment-to-avoid-recession-cbi-economic-forecast/
CARBON SAVINGS THROUGH EFFECTIVE CLEANING AND MAINTENANCE Alfa Laval’s report also
A
lfa Laval’s 2021 sustainability report has highlighted the potential for significant carbon savings through the application of effective cleaning and maintenance in
industrial processes. The report, which was published in April 2022, explores a number
of avenues through which various industries can reduce their carbon emissions in line with net zero targets. Among the major findings was that up to 2.5% of global CO2 emissions could be prevented if the heat exchangers currently installed in industrial processes are effectively cleaned and maintained. John Smith, Service Operations Divisional Manager UK & Ireland at
Alfa Laval, said: “A healthy heat exchanger is able to perform far more efficiently than its poorly-kept counterpart, which is not only critical to maintaining streamlined operations, but also reducing a company’s environmental impact. On an industry-wide scale, this holds the potential for significant carbon savings, which will in turn prove key to falling in line with net zero targets.”
halfpage_processandcontrol_june22_clickplus.pdf 1 21/06/2022
highlights the role that a number of new technologies can play in achieving this goal. Compact plate heat exchangers, for instance, are 20-50% more efficient than conventional technology. “We believe that UK-based assets such as our very own Advanced
Service Center in Camberley will be an invaluable resource as the nation grapples with net zero. By keeping components such as heat exchangers in peak working order, operators can benefit from both improved performance and a reduced carbon footprint for their industrial processes,” Smith concluded. To read the full report, visit:
https://www.alfalaval.co.uk/globalassets/documents/investors/ english/annual-reports/2022/alfa-laval-annual-report-2021.pdf
12:53
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Lamonde Automation Limited Quality Products: Expert Advice
sales@lamonde.com |
www.lamonde.com | +44 (0)20 3026 2670 4 JUNE 2022 | PROCESS & CONTROL
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