During Energy question in the House of Commons, James Wild MP challenged the Energy Minister over criticism from leading businesses about the harmful effects of the UK’s carbon tax and energy policies on domestic manufacturing.
Citing INEOS’s chief executive, James highlighted warnings these measures threaten jobs, investment, and UK industry’s competitiveness.
Recent statistics show UK industrial electricity prices are the highest in the OECD - three times higher than in France, 60% higher than in Germany, and four times the price in the US.
Industry leaders argue these costs hinder the shift to greener operations and threaten the UK's ability to attract investment and create jobs.
James Wild MP said:
“Growing the economy will need cheaper energy but INEOS’s chief executive has warned that Labour’s crippling carbon taxes and other levies threaten UK manufacturing and make us more reliant on imports. When will Ministers start listening and realise that their dogma-driven energy policy is costing jobs and investment, and when will they actually act to make our electricity prices more competitive?”
In response, Minister of State, Sarah Jones MP, said:
“As UK Steel said recently, the main driver of the price disparity is the wholesale electricity cost, which is driven by the UK’s reliance on natural gas. The best way to secure bills for the long term is to deliver clean power by 2030, and that is what we are doing.”
