The UK government is implementing a strategy to cut green levies on over 7,000 businesses to alleviate high energy costs and stimulate manufacturing. Announced by Prime Minister Keir Starmer, the initiative aims to provide a sustainable economic direction, encouraging investment and job creation. Additionally, it includes reducing grid connection charges for the most electricity-intensive industries, although some sectors, like steel, express concern over the adequacy of the savings. Overall, this policy is seen as pivotal for enhancing competitiveness against countries with lower electricity prices.
The UK government will slash green levies on thousands of businesses in a major bid to reduce energy costs and revive the country's manufacturing base.
Starmer hailed the strategy as a 'turning point for Britain's economy,' promising a clear departure from what he called the 'short-termism and sticking plasters of the past'.
In an era of global economic instability, it delivers the long-term certainty and direction British businesses need to invest, innovate and create good jobs.
While industry sources welcomed the support, some voiced caution, noting that annual savings for the steel sector are expected to be modest given their financial strain.
Collection
[
|
...
]