Labour cuts electricity charges for factories after wave of closures
Update: 2025-10-31
Description
**Summary:**The UK government announces a significant increase in electricity network charge discounts for heavy industries, potentially saving businesses up to £420 million annually. While welcomed, the move is not retroactive, and businesses await further details on the proposed British Industrial Competitiveness Scheme. The government assures funding through efficiency savings and hints at more support in the autumn budget, while focusing on reforms to boost growth and ease business operations.
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