The UK government announced plans to cut green levies on thousands of businesses, aiming to reduce soaring energy costs and boost the manufacturing sector, particularly in Labour strongholds.
As part of a new 10-year industrial strategy, the UK government says more than 7,000 businesses will benefit from reduced energy bills through the removal of levies such as the renewables obligation, which currently funds earlier renewable electricity projects. This move is intended to ease the financial burden on companies, especially those in electricity-intensive industries such as steel, aluminium, ceramics, and glass.
In addition, the government will increase discounts on grid connection fees for energy-intensive firms from 60% to 90%, helping around 500 businesses gain faster and more affordable access to power. New measures will also speed up grid connections for major projects expected to create significant jobs, with reforms planned to be in place before year-end.
Prime Minister Keir Starmer described the plan as a “turning point” for the UK economy, emphasizing the need for long-term certainty to encourage investment, innovation, and job creation.
Chancellor Rachel Reeves highlighted that the strategy complements recent spending reviews focusing on infrastructure and technology, ensuring key industries can thrive without increasing costs for taxpayers or households.
The government stressed that these reforms would be funded through changes in the energy system, not by increasing household bills or public spending, aiming to secure a sustainable and competitive future for British businesses.
Israel reportedly launched a fresh wave of attacks on Iran on Friday (20 March), a day after U.S. President Donald...
Iranian attacks have wiped out 17% of Qatar’s liquified natural gas export capacity (LNG), equivalent to $20 bi...
U.S. President Donald Trump said Israel struck Iran’s South Pars gas field without U.S. or Qatari involvement, and warned that any Iranian at...
The ongoing conflict involving Iran is set to disrupt global travel on a massive scale, with nearly 28 million outbound trips from the Middle East ...
China is strengthening its presence in Central Asia by increasing gas imports from Turkmenistan and expanding trade and infrastructure cooperation ...
Iranian attacks have wiped out 17% of Qatar’s liquified natural gas export capacity (LNG), equivalent to $20 billion in lost annual revenue, the CEO of Qatar’s state-owned energy company, Saad al-Kaabi said on Thursday (19 March).
The ongoing conflict involving Iran is set to disrupt global travel on a massive scale, with nearly 28 million outbound trips from the Middle East at risk this year, according to Oxford Economics.
Transport groups across the Philippines launched a nationwide strike on Thursday in protest against rising oil prices. The action affected 15 to 20 protest centres in Metro Manila, with similar demonstrations taking place across several major provinces.
Türkiye’s ambassador to the United Nations, Ahmet Yildiz, has called for Syria to be shielded from the effects of the ongoing regional war, warning that instability could threaten the country’s recovery.
Morocco has been declared winners of the 2025 Africa Cup of Nations and Senegal stripped of their title by the Confederation of African Football (CAF).
One person has died after a cable car cabin at the Titlis ski resort in central Switzerland plunged down a snow-covered mountainside on Wednesday (18 March) amid strong winds.
Iranian President Pezeshkian has confirmed the killing of intelligence minister Esmail Khatib calling it a "cowardly assassination", following reports that Israel carried out an overnight strike.
U.S. President Donald Trump said Israel struck Iran’s South Pars gas field without U.S. or Qatari involvement, and warned that any Iranian attack on Qatar would prompt massive retaliation. The comments come as regional tensions soar after Tehran fired missiles at Gulf energy sites.
When a NATO-led coalition helped to overthrow Muammar Gaddafi’s dictatorship in Libya in 2011, it looked like the sun had risen on a new era. But within years, the nation was gripped by a second civil war, declining living standards and collapsing institutions. Could Iran follow suit?
The prevailing security situation in the region has done little to deter entrepreneurs from the Commonwealth of Independent States (CIS) who continue to view Dubai as a premier and safe location for business.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
The European Commission sees no immediate impact on the European Union's security of oil supply from the escalating conflict in the Middle East, it said in an email to EU governments, seen by Reuters on Monday (2 March).
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment