The Government has come under fresh pressure to tackle rising energy costs after a warning that higher prices are threatening future business investment.
Energy costs are increasing in the UK at a faster rate than in competitor countries, the manufacturers’ organisation EEF said.
In its submission ahead of next month’s Autumn Statement, the EEF called for reforms to apprenticeship funding and faster action on road improvements.
EEF chief executive Terry Scuoler said: “The Chancellor’s top priority must be action on business energy costs. These are rising faster than our competitors, squeezing margins which will risk choking off the investment recovery.
“With Government policies on climate change set to add as much as 50% to the electricity prices paid by industry by 2020, it must act now to stop planned rises in energy taxes and set out a long-term commitment to compensate energy-intensive industries.
“Without this, we risk losing out on the investment in new technology and jobs that our economy desperately needs.”
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