Net Zero taxes will be slashed by up to 25% for thousands of manufacturers as Keir Starmer scrambles to save British industry from electricity costs that are the highest of any developed country. The Telegraph has more.
As part of the Government’s long-awaited Industrial Strategy, the Prime Minister is to cut power bills by up to 25% for some 7,000 “electricity intensive” manufacturers, including car makers, aircraft factories and chemical plants.
From 2027, they will no longer have to pay the Net Zero levies that are normally added to their power bills, such as the renewables obligation, the feed-in-tariff and capacity market charges.
This will be paid for by financial reforms to the energy market and a raid on companies that burn natural gas, through higher carbon taxes, the Government said.
However, the support was at risk of being diluted on Sunday as Iran’s threat to cut off a vital oil and gas supply route in the Middle East risked sending energy prices around the globe soaring.
It comes after repeated warnings that British manufacturers are labouring under the highest industrial electricity prices of any developed country, with output down by a third since 2021.
Sir Keir’s announcement was welcomed by manufacturers, including Derby-based Rolls Royce, as a “giant and much needed step forward”.
The Prime Minister said: “This Industrial Strategy marks a turning point for Britain’s economy and a clear break from 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 that put more money in people’s pockets as part of the plan for change.
“Our message is clear – Britain is back and open for business.”
Worth reading in full.
However, Net Zero Watch (NZW) dismissed the move as a gimmick that is “robbing Peter to pay Paul”, as the cost of the discount has to be paid somehow, with hints that gas users will foot the bill.
NZW Director Andrew Montford said:
Ed Miliband is once again merely proposing to shuffle costs from one energy user to another. Robbing Peter to pay Paul is all he has to offer, because his mad fixation on decarbonisation means he will not look at the underlying problem, namely the gross inefficiency of a renewables-based grid.
This latest wheeze will bring temporary relief for sectors favoured by the Secretary of State, but at the expense of others, who can ill afford it. And in the medium term, bills will continue to rise for everyone. The country can’t afford this madness any longer.
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Only from 2027!
What’s wrong with next week?
How many more jobs will be lost in the mean while?
What a t o s s e r
Like bumping up the defence budget, this will “come into force” only when this lot are dumped at the polls. Assuming their successors agree with their opponent predecessors policies (dreams, hope, aspirations, pretty rainbows)! 🤣
What successors?
More rob Peter to pay Paul! When will politicians learn that ‘climate change’ is a huge scam, and they are the scammers, robbing us of money and pouring it down the green toilet.
Learn? They know. It’s about control.
…and into the big green wallet, that they will get their share of in time, for following the script…
When so many of our industries have already been pushed overseas, what kind of idiot thinks that making business more difficult in the UK is a clever strategy?
A member of our student union government.
In clown-world de-industrialisation and mad mass unlimited immigration fit perfectly together.
The point of all the enforced deindustrialisation is to destroy this country once and for all. As always with Kneel what he says and what he means are always polar opposites.
So all those companies that rely on gas for production will close down or move production abroad. Takes a complete bunch of idiots to come up with such an idea. What an indictement of our country that in order to end decades of socialism we have to endure a bunch of students let loose in government.
Too little, too late.
Transferring the tax burden from one part of the economy to another overall makes no difference.
And. Consumers are still burdened by high energy prices = less money to spend in the economy = reduces economic activity.
The economy is a joined-up interactive process, fiddling with one bit of it doesn’t fix the whole.
Socialists do not understand economics and have psychopaths’ understanding or care of the Human condition.
Cancelling a bad tax (albeit in part) is not a step forward but backwards. Someone tell RR.
So what – other ‘not so energy intensive’ businesses don’t matter? What about the food processing industry? Much processing is heating and cooling (and water use).
Suppose it doesn’t really matter that food will cost much much more? Oh wait – is that inflation busting headlines I see on the horizon. No sh*t sherlock. Who are these people?
You can only juggle so many balls at a time, they are going to drop one any day now and the whole mixed metaphor will come tumbling down.
What about the industries the Eco Nutters and Net Zero Insanity have already destroyed?
Oh dear, what a shame, never mind?
By 2027, thousands more jobs will have been lost for NO GOOD REASON on the altar of the Insanity.
I and most people in Daily Sceptic have been warning from the start of this eco socialist planet saving madness that you cannot defeat reality. ——Eventuality governments are forced to admit that the flawed ideology that drives their decision making needs binned. They should concede that their energy policy that uses irrational and evidence free “official science” about the climate as the basis for this absurdity that is causing huge economic damage and impoverishment of the lower paid who are being forced into energy poverty is utter stupidity and it is time to base energy policy on REALITY, not UN inspired FANTASY
The man who when chief of the CPS was pivotal in the imprisoning of Assange indefinitely without trial or charge in solitary in a cell 3×2 mts.
He also deleted or allowed to be deleted, emails pertaining to his US visit to discuss the matter. Illegal.
A criminal.