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.
Ukraine’s domestic security service, the SBU, says it struck a Russian Kilo‑class submarine in the Black Sea port of Novorossiysk, causing critica...
Washington’s seizure of a tanker carrying Venezuelan oil shows a shift from financial sanctions to direct maritime action, further straining relatio...
Anewz brings you the best videos of the day from around the world covering everything from uplifting events to updates in conflict zones....
At least 37 people have been killed in flash floods triggered by torrential rain in Morocco's Atlantic coastal province of Safi, Moroccan authorities ...
The European Union’s interest in investing in regional connectivity projects in the South Caucasus, such as the Trump Route for International Peace ...
Ukraine’s domestic security service, the SBU, says it struck a Russian Kilo‑class submarine in the Black Sea port of Novorossiysk, causing critical damage.
Anewz brings you the best videos of the day from around the world covering everything from uplifting events to updates in conflict zones.
The European Union’s interest in investing in regional connectivity projects in the South Caucasus, such as the Trump Route for International Peace and Prosperity (TRIPP) is driven by a need for strategic credibility and a tangible foreign policy success, according to a regional expert.
French senators on Monday approved a revised 2026 budget bill that the government warned could worsen the country’s fiscal deficit, setting the stage for tense negotiations between parliament’s two chambers later this week.
Russia’s human rights commissioner, Tatyana Moskalkova, has said that Ukraine has not provided Moscow with a list of thousands of children it alleges were taken illegally to Russia, despite the issue being discussed during talks in Istanbul.
Iranian authorities have seized a foreign tanker carrying more than 6 million litres of smuggled fuel in the Sea of Oman, detaining all 18 crew members on board.
An explosive device found in a vehicle linked to one of the alleged attackers in Bondi shooting has been secured and removed according to Police. The incident left 12 people dead.
The latest round of clashes between Thailand and Cambodia has left 15 Thai soldiers dead and 270 others injured, Thailand’s Ministry of Defence spokesman Surasant Kongsiri said at a press conference on Saturday.
Syrian President Ahmad al-Sharaa has offered condolences to President Donald Trump following an ISIS attack near the ancient city of Palmyra that killed two U.S. soldiers and a civilian interpreter, Syrian and U.S. officials said Sunday.
Iran has rolled out changes to how fuel is priced at the pump. The move is aimed at managing demand without triggering public anger.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
The U.S. Federal Reserve’s Federal Open Market Committee (FOMC) cut its benchmark interest rate by 25 basis points to a range of 3.50% to 3.75% following its two-day policy meeting, according to an official statement issued on Wednesday, 10 December.
China has carried out a major test of a new “super wireless” rail convoy, a technology that could reshape the future of heavy-haul transport.
Paramount Skydance (PSKY.O) has launched a $108.4 billion hostile takeover bid for Warner Bros Discovery (WBD.O). The escalation follows a high-stakes battle that had appeared to end last week when Netflix secured a $72 billion deal for the studio giant’s assets.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment