The Independent outlines a significant policy shift in the UK aimed at reducing electricity costs for businesses by scrapping green levies, potentially lowering bills by 25%. This initiative is a cornerstone of Sir Keir Starmer's 10-year industrial strategy designed to bolster economic growth and support critical industries facing high energy expenses. The new British Industrial Competitiveness Scheme, effective from 2027, will further alleviate costs for over 7,000 manufacturing firms by exempting them from various levies, signifying a concerted effort to enhance UK competitiveness on the global stage.
The plan to scrap green levies aims to cut electricity costs for thousands of businesses by up to 25%, enhancing competitiveness against foreign rivals.
Sir Keir Starmer insists this proposal marks a "turning point for Britain's economy" and is designed to support key industries with potential for growth.
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