Tuesday, November 28, 2023
HomeUKUK industry hit with £3.5bn energy surcharge, says Labor

UK industry hit with £3.5bn energy surcharge, says Labor

Labor said its plans to deliver clean power by 2030 will boost business, adding that the Tory ban on onshore wind has resulted in 7GW of onshore wind capacity lost since 2015.

Energy-intensive industries have lost 11,000 jobs in the last eight years, he said.

Sunak said last week that the approval of two carbon sequestration projects in north-east Scotland and the Humber it would support 50,000 jobs and enable Britain to reach its goal of net zero emissions by 2050.

The Labor Party’s shadow business secretary, Jonathan Reynolds, said: “Every family and business in Britain has paid the price for the Tories’ failed energy policy which has left Britain the worst affected country in Western Europe for the energy crisis.

“Britain is a brilliant place to start and grow a business, but energy costs are holding businesses back, hurting investment and driving up prices.

“Labor have a plan to cut industrial energy costs forever, ensuring we keep good jobs in our industrial heartland for decades to come.”

Under Labor’s plan, British industry would save £28bn over the rest of the decade, he said, saving trading companies more than £21bn and taking almost £5bn off food production that could be passed on to consumers.

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