FEA
will push government for energy efficiency R&D incentive for manufacturers
The FEA has welcomed the
Budget’s ‘super deduction’ tax incentive because it fully supports the
Association’s Net Zero Carbon plans. Emma
Brooks, chair of FEA Net Zero Carbon Forum, confirmed that the Association had
checked with government information and that it does apply to foodservice
operators buying commercial catering equipment – so long as the appliance is
new.
In addition, a 50% first-year
capital allowance will be available for qualifying special-rate assets, giving
a further incentive to buy new, more efficient equipment – and helping to meet
the industry’s carbon reduction targets.
Meanwhile, the Chancellor
announced a consultation on R&D tax credits for manufacturers. FEA is hoping that this, too, can be used to
back its Net Zero Carbon plan for the foodservice industry. “One of our key points was to incentivise manufacturers
to develop more energy efficient appliances,” says Brooks. “We will be taking part in the consultation
with a view to including energy efficiency as a key criterion in the R&D tax
credit scheme.”
One concern for FEA was that,
with more second-hand equipment on the market, foodservice operators buying an
appliance might opt for that rather than a new, energy efficient model. “The super deduction incentive is great news
for the Net Zero Carbon plan, because there is no incentive to choose second-hand
when the buyer gets a 130% tax credit on new equipment,” says Brooks.
“Meeting the hospitality
industry’s carbon reduction targets is a huge challenge,” she adds. “The proposals outlined in the Budget are a
big step forward and endorse key elements that the FEA has requested. This is
very good news.”
The Foodservice Equipment Association (FEA)is the independent, authoritative voice of the
foodservice equipment industry, representing nearly 200
companies who supply, service and maintain all types of commercial catering
equipment - from utensils to full kitchen schemes. For more
information on FEA visit www.fea.org.uk
Press
Enquiries:
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Publicity Works: 01263 761000; fea@publicityworks.biz
For more news about FEA visit the
press office at www.publicityworks.biz
Keith Warren, FEA: 020 7793 3030
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