Member

Let me take each of those four in turn, starting with energy. Today, we have announced that we will slash electricity costs by between 20% and 25% through a new British industrial competitiveness scheme. This will bring our prices more closely in line with those in Europe, and it will be a game-changer. We will also put in place the reforms we need for businesses to get the much faster connections to the grid that they need. That means companies in sectors such as car making and chemicals will see their electricity costs cut. The scheme could benefit over 7,000 businesses with high electricity usage in industrial strategy foundational industries and high-growth manufacturing sectors, which collectively employ over 300,000 skilled workers.