📊 What the 2024 Autumn Budget Means for UK Logistics and Supply Chains
The 2024 Autumn Budget, presented by Chancellor Rachel Reeves, has introduced measures that could significantly impact the logistics and supply chain sectors. While infrastructure and clean energy investments were welcomed, industry leaders expressed concerns about the lack of targeted support for key challenges, such as workforce development, supply chain resilience, and digital transformation.
💡 Key highlights:
Infrastructure: The creation of the National Infrastructure and Service Transformation Authority (NISTA) aims to enhance project delivery, with a 10-year infrastructure strategy set to launch. However, clarity is needed on how supply chain processes and technologies will align with these investments.
Supply chain resilience: Financial support for critical minerals and clean energy industries is a step forward, but the absence of investment in cybersecurity leaves vulnerabilities unaddressed.
Digital transformation: Funding through the Made Smarter Innovation programme is expanding, providing opportunities for small manufacturing businesses to adopt advanced technologies.
Sustainability: £3.9 billion in funding for carbon capture and green hydrogen initiatives underscores the sector's pivotal role in net zero efforts.
Labour costs: The rise in the National Minimum Wage and employer National Insurance contributions presents significant challenges, especially for SMEs operating on narrow margins.
As the logistics and supply chain sectors navigate these changes, having the right tools and systems in place to adapt is more crucial than ever. At BCP, we empower businesses with end-to-end supply chain software solutions that optimise operations, from warehouse management to reporting and finance, enabling organisations to manage costs, improve efficiency, and remain resilient in the face of evolving challenges.
Explore the full analysis below!
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