The UK is at risk of losing its status as a major manufacturing centre after a sharp rise in energy prices that has forced about 40% of businesses to cut back investment, according to a report by the CBI and Energy UK.
In a stinging message to ministers, the report said British businesses – from chemical producers to pubs and restaurants – were being undermined by a failure to cap prices and upgrade the UK’s ageing gas and electricity networks.
A far-reaching review of outmoded regulations that govern the sale and supply of energy is also needed to spur investment and boost economic growth, the report said.
Energy UK, which represents more
Continue Reading on The Guardian
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.