Natwest forecasts £160bn Brexit Britain bonanza

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Natwest forecasts £160bn Brexit Britain bonanza. More than 100,000 new jobs have also been predicted.

Alison Rose, chief executive of NatWest spoke at the Global Investment Summit (GIS). According to Ms Rose, net zero businesses could make billions in profit. She believes that both small and medium-sized businesses could see profits boom. This will happen as businesses head towards being carbon-free.

She spoke ahead of the COP26 climate summit. The summit will take place in Glasgow.

Businesses are looking for ways to make decarbonisation profitable. Ms Rose believes that going green could also create hundreds of thousands of jobs. Investments though need to be made soon.

Ms Rose commented: “Really bringing these investment ideas to life, that’s the real key.

“With no disrespect to large businesses, building a net zero plan, they have resources to do that.

“The opportunity of transition and the value it will create, for SMEs (small and medium-sized enterprises) in the UK, they represent 50 percent of the turnover of the UK and 60 percent of employees.

“When we look at the business cases that are available to help them transition to a low carbon economy, it represents around £160 billion revenue opportunity and 130,000 jobs from this shift to low carbon.

“These great opportunities and this path to net zero, it’s coming. The business opportunity and the value it can create is really valid.”

To make the most of the potential growth businesses need to act now. Ms Rose said: “At a time that we need to make sure that business confidence is remaining high, identifying those opportunities and getting people to invest in the transition and starting now, because getting to net zero is something we need to achieve and there’s not a long period to get there.

“Making that real and tangible for business and consumers is a critical part of a net zero plan.”

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Alex Glenn

Originally from the UK, Alex is based in Almeria and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]