AEMT - Association of Electrical and Mechanical Trades

27 October 2022
Update From The AEMT Secretary
As we hurtle towards the end of another turbulent year, energy costs and the Chancellor’s new ‘mini-budget’ are at the forefront of our minds this quarter. The repair and maintenance industry is perfectly positioned to help navigate the energy crisis. Meanwhile, there may be some benefits to take from the mini-budget, too, although we are yet to see what the full plan is.

Traditionally the industry is used to reacting quickly to failures and solving problems for plant owners. Today we can monitor plant health, observe weaknesses and energy losses in drive systems and plan for maintenance shutdowns. The Eco-design regulations were updated in 2021 so that lower efficiency motors would be phased out of distribution – however, it is no longer the only driver; a war in Ukraine has now got companies thinking twice about their energy costs. I’ve been speaking to members who are having quotes several years old being resurrected in the hope of reducing plant energy bills. Fortunately, AEMT members are the first port of call for help with plant owners’ energy bills. The mini-budget supports this with a permanent £1m annual investment allowance (AIA) limit that effectively introduces full expensing for smaller businesses, meaning most plant and machinery investments will be fully deductible from profits.

Energy bills, mortgage rates, the cost to borrow money, inflation, and general living costs are all spiralling. If the business isn’t facing a crisis, then its employees are. It's difficult to know what to do when you need to make decisions quickly for the good of your business. Fortunately, membership of the AEMT extends to our partners Croner, and the CBI, who can offer of good advice to businesses during this crisis. If you’re a member who needs help and doesn’t know where to turn, then please give us a call. Additionally, we are working hard to bring members an exclusive benefits package by the end of this year, called AEMT Advantage. This package will bring down costs for your business and your employees, and I look forward to sharing details with members in due course.

Despite all the gloom in the papers, what other benefits does the mini-budget bring business? In terms of tax, it reverses the increase in Employer NICs combined with retaining the £5,000 Employment Allowance and cancelling the planned increase in corporation tax from 19% to 25%. The hope is that the additional cash given to businesses will trickle down to support the employees, but we will have to see if the gamble works. Coupled with £1m AIA, it looks like the government is doing more to support innovation and growth in business – which should certainly help the repair and maintenance industry in the long run.

For members, it's time to consider your profiles with the AEMT and ensure they present your business in the best light before we print our annual yearbook in early 2023. Please speak to the team about how you can do this via the website; call 01904 674 899 or email admin@aemt.co.uk.

If you’ve any comments or suggestions, or would like to speak to me about any of the above points, please don’t hesitate to get in touch. You can email me at thomas@aemt.co.uk or call 01904 674 899.

More News from the AEMT
AEMT News
28 November 2022
The Winners of the 2022 AEMT Awards were announced during a Gala Presentation Ceremony in Coventry on Thursday 17th November. With a near record attendance, from right across the electrical and mechanical trades arena, the evening once again proved to be a wonderful evening of reward and celebration. Following the success of the previous four years, there was a good deal of excitement and anticipation ahead of the event with attendees eager to unite and engage with their colleagues and peers.
AEMT News
27 October 2022
As we hurtle towards the end of another turbulent year, energy costs and the Chancellor’s new ‘mini-budget’ are at the forefront of our minds this quarter. The repair and maintenance industry is perfectly positioned to help navigate the energy crisis. Meanwhile, there may be some benefits to take from the mini-budget, too, although we are yet to see what the full plan is.
Renew Mag
27 October 2022
The 5th annual Association of Electrical & Mechanical Trades (AEMT) awards returns to the West Midlands on the evening of Thursday, November 17. With a record number of submissions across the seven categories, this year’s programme has produced some exceptional entries from across the electro-mechanical arena.

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News: Update From The AEMT Secretary