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27 min ago 2 min read
The next UK Prime Minister must tackle high industrial energy costs, rising employment costs and continued pressure on investment, according to manufacturing industry body Make UK.
Recent Make UK research found business confidence at its lowest level for four years, while one in four manufacturers have either moved production overseas or are considering doing so because of the UK’s high cost base.
Stephen Phipson CBE, CEO of Make UK, said, “A key first step should be bringing forward and expanding the British Industrial Competitiveness Scheme so manufacturers across the sector can benefit from competitive energy costs.”
UK industrial electricity prices are among the highest in Europe, with prices around 25.4p/kWh, higher than Germany (15.6p/kWh) and France (17.6p/kWh).
The UK is set to have its seventh Prime Minister in a decade after Keir Starmer resigned last Monday (22 June), ending a premiership that had drawn for failing to convert ambition into delivery.
Andy Burnham, former Mayor of Greater Manchester and widely expected to succeed Starmer, has set out plans for a ‘No 10 North’ in which more power would be devolved from London to Manchester, providing local leaders with more control over key sectors such as energy.
Last week the Climate Change Committee reported that the UK’s transition to clean electricity is .
