Business and Energy Minister hints at relief regarding manufacturing energy costs
Business and Energy Minister Michael Fallon has recently hinted at some form of relief set to be introduced in the next Budget in order to help manufacturing companies reduce their overall energy-related costs, a media news report on this topic can reveal.
As part of his speech at the International Utility Conference, Mr. Fallon admitted that the lack of sufficient relief measures could put manufacturing jobs at risk, while also having an adverse effect on the overall UK economy.
He said: “The risk to jobs in the steel and chemical industries is now very real. There is a clear and present danger that we could lose jobs in these foundation industries just when we are beginning to see other jobs re-shoring to the UK.”
The minister suggested measure in the Budget may be able to help: “Without further action on energy costs the competitiveness gap between Europe and the US is becoming unbridgeable. Next week’s budget gives us the chance to underpin our commitment to manufacturing.”
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