The latest Tank Storage Association (TSA) Annual Review for 2018 provides an overview of the bulk liquid storage sector in the UK and information about the TSA’s activities over the past year.
“We have seen significant change in the TSA in the past year, with rapid expansion of our Associate Membership, updates to our Articles of Association, and the creation of a board of directors to ensure we continue to deliver our strategic initiatives and grow in a controlled and sustainable manner,” comments TSA President Paul Denmead.
He noted that BREXIT is still high on the agenda: “Whilst recent announcements regarding a transition period have been welcomed, there is a great deal to do in ensuring that our sector is not adversely impacted – and to investigate potential opportunities by simplifying existing processes. We have been working closely with Her Majesty’s Revenue and Customs in developing several discussion papers regarding the Customs Union, Customs Warehousing and European Union Acquisitions Taxation and VAT. There is much more dialogue needed, but I am happy to report that we are making positive progress and are committed to working together to identify opportunities for positive change.”
The report shows the bulk liquid sector in the UK contributes £2.8bn to the economy, with a planned investment in the next five years of £555m. Meanwhile, the tank storage sector continued to maintain very high standards of occupational safety during 2017. It remains one of the safest industries in the UK with proportionally fewer injuries than almost all other sectors. No Tier 1 incidents were experienced by members in 2017.
The full report is available here: www.tankstorage.org.uk
28th June 2018