As a business owner in the steel, engineering and manufacturing sectors, I look at the new government’s policies with keen interest. It’s crucial that we examine these policies to ensure that there are no unintended consequences for well-intentioned policy and that those good intentions at a surface level don’t inadvertently go on to harm the businesses they aim to support.
And while Labour’s mantra of “making work pay” sounds appealing to employees, we must look at this in the context of employers already facing inflationary pressures on everything from raw materials to energy and increased National Insurance contributions. In an era where global competition is fiercer than ever, we must measure the risks of adding more financial pressure to British companies – which in turn could have implications such as job losses or decisions to offshore. We have already lost much of the country’s manufacturing base and we should be careful to nurture and support what remains.
Of course, for our sector, all eyes are on Labour’s energy transition plans. The proposed Great British Energy, a publicly owned clean energy company, certainly sounds promising. But while the transition to clean energy is undoubtedly necessary, it must be managed carefully to avoid disruption.
There’s no problem in having a bold policy position as long as it is informed by the facts. We need to consider the practicalities of a shift away from more traditional fuel sources and have a long-term view – something we don’t have a brilliant track record of doing in this country.
A couple of years ago we saw just how insecure the country’s energy systems were. Going forward, anything that detracts from our energy resilience could signal a return to those price spikes we experienced, and which are still reverberating through pricing to this day.
While the technology exists to decarbonise generation, we need significant investment in the grid to enable the move to a low-carbon economy, meaning we simply cannot transition in haste.
We also need to consider the human impact; we’ll need skilled talent to power the future of the clean energy sector, and some of this resource could well come from those losing their jobs in the oil and gas sector. We must have the pipeline and skills to support the transition, taking a phased approach that maintains our energy independence and economic stability.
Ultimately, well-meaning policies must be implemented with a thorough understanding of their impact on British industry. We need a balanced approach that supports both workers and businesses, fosters innovation, and ensures a sustainable – and realistic – energy transition. This balance is crucial not just for the success of individual businesses, but for the overall health of the UK economy.
The Government must engage in a meaningful dialogue with industry leaders to refine these policies. It is only through collaboration that we can create a greener, fairer, and economically viable environment. We need policies that encourage investment, reward risk-taking, and create an environment where British businesses can thrive on the global stage.
After opting out of the traditional university education route, Rotherham-born Emma did a stint recruiting for – and then working in – the manufacturing sector, before taking the leap and setting up the first of the Group companies, International Energy Products, in 2017. The business started as a one-person team, and she has grown the business to five companies.
Recognised for her business acumen, Emma is a Midlands Export Champion for the UK Government’s Department for Business & Trade. She was also a winner of the 2021 Natwest Everywoman Awards and recognised in the 2024 Telegraph & Natwest 100Female Entrepreneurs to Watch.
