The Confederation of British Metalforming (CBM), which represents 200 UK manufacturers of fasteners, forgings and pressings, cold-rolled and sheet metal products, has initially welcomed the Government’s announcement around support for Energy bills for business.
Geraldine Bolton, CEO of CBM, commented: “At first glance, it’s positive, especially as it gives breathing space to our members and it covers all sectors, which is really important.
“However, there are some important factors that we would want clarity on before getting too carried away.”
CBM President Stephen Morley raised some of the issues: “Firstly, it is only for six months with a review in three, so we need clarity on what happens after that, and we certainly don’t want to see other sectors get preferential treatment when the review is carried out.”
He added “Another point that everyone appears to be missing is that this clearly states it is based on wholesale costs. This only equates to 35% of the cost, the rest is made up of 45% on delivery, 15% on taxes and state charges and 5% on purchasing.
“This could be open to interpretations by different suppliers and needs direction or, better still, regulation.”