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.
Typhoon Matmo intensified as it approached southern China, prompting authorities to evacuate approximately 347,000 residents across Guangdong and Hain...
A devastating building collapse at the Al Khoziny Islamic boarding school in Sidoarjo, East Java, Indonesia, has resulted in at least 40 confirmed dea...
A tragic hunting accident in Iowa resulted in the death of 17-year-old Carson Ryan, who was mistakenly identified as a squirrel by a member of his hun...
According to the Gaza Health Ministry, the death toll in Gaza has now reached 67,139 amid continuing Israeli airstrikes and military operations. In th...
Rescue operations are underway on Mount Everest's eastern Tibetan slope after a powerful blizzard trapped nearly 1,000 trekkers in high-altitude camps...
Typhoon Matmo intensified as it approached southern China, prompting authorities to evacuate approximately 347,000 residents across Guangdong and Hainan provinces.
A devastating building collapse at the Al Khoziny Islamic boarding school in Sidoarjo, East Java, Indonesia, has resulted in at least 40 confirmed deaths, with 23 students still missing under the rubble.
A tragic hunting accident in Iowa resulted in the death of 17-year-old Carson Ryan, who was mistakenly identified as a squirrel by a member of his hunting party and fatally shot in the back of the head.
According to the Gaza Health Ministry, the death toll in Gaza has now reached 67,139 amid continuing Israeli airstrikes and military operations. In the past 24 hours alone, officials said 65 bodies were brought to hospitals and 153 people were wounded.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
The currency swap agreement signed between the central banks of Türkiye and the United Arab Emirates (UAE) is set to strengthen Türkiye’s digital banking sector and attract fresh investment from the Gulf.
Shein is opening its first permanent physical stores in France, starting in Paris and expanding to five more cities. The fast-fashion giant aims to test brick-and-mortar retail in one of the world’s most influential fashion markets.
Tesla sales hit a record 497,099 vehicles in Q3 as buyers rushed before the U.S. tax credit expired according to reports. Despite the surge, experts warn the gains may not last amid rising competition.
American soybean farmers are struggling as China, once their largest buyer, shifts purchases to Argentina amid trade tensions and export incentives.
U.S.-based aviation company Boeing is preparing to produce a new narrow-body, single-aisle aircraft to replace its 737 Max model, sources report.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment