Britain’s manufacturers are warning that their energy costs have already spiraled out of control, with nearly half reporting that electricity bills have shot up by over 100 percent in the past 12 months.
Make UK, the trade organisation that represents 20,000 manufacturers, is pressuring the government to take immediate action over the energy crisis, saying companies face cutting production or closing for good.
“The current crisis is leaving businesses facing a stark choice—cut production or shut up shop altogether if help does not come soon,” Make UK said in a statement.
The organisation said that a “worrying” 12 percent of manufacturers have already made job cuts as a direct result of increased energy bills. It said that if bills continue to increase and prices rise by over 50 percent, which they expect in the next 12 months, more drastic action such as shutdowns and redundancies will become inevitable….