ACCA reacts to the Autumn Statement’s disappointing lack of support on both skills and green policy
While we welcome many of the announcements made by the Chancellor in the Autumn Statement, ACCA is disappointed at the lack of support on both skills and green policy.
Tackling persistent challenges in skills and training also remains critical to boosting growth and productivity. We need to see substantial focus on improving investment in skills and training, including a commitment to the future of the apprenticeship levy, with apprenticeship funding to be consistently reviewed against inflation to ensure a continued commitment to quality teaching and learning.
Apprenticeship provision quality remains a leading priority for organisations presented with continuing and growing skills recruitment challenges across a range of sectors and professions, including our profession. The lack of enhanced investment in skills is a major threat to the UK's economic competitiveness.
Further, despite references to the UK’s transition to net-zero, ACCA was surprised to see a lack of detail pertaining to the imminent announcement and outline of the Carbon Border Adjustment Mechanism. SMEs can face particular challenges when it comes to keeping up with and meeting the regulatory requirements associated with net-zero, and timely guidance and updates with respect to such policies assist businesses in anticipating climate-related transition risks.
ACCA welcomes the opportunity to respond to the Climate Change Agreements: Consultation on a New Scheme. We will continue to engage our members on issues in this space and represent their perspectives in our engagement with government.
ACCA believes that the evolving role, skills, judgement and all-round data-informed view of professional accountants means that they can make invaluable contributions to the efforts of organisations and the society at large in transitioning to a more sustainable economy.
We believe that the government needs to do more to invest in skills and training to ensure that the UK has a workforce that is equipped for the future. We urge the government to take action to address this issue.