Overview

• Rain Newton-Smith warns UK businesses pay electricity prices about 50% higher than France and Germany and over four times those in the US and Canada.
• The CBI estimates that combined energy, tax and wage hikes have saddled firms with an extra £24bn in annual costs.
• Nearly 90% of companies report rising energy bills over the past three years and four in ten have cut investment as a result.
• A CBI economic report shows the net zero economy grew 10% to support 900,000 jobs but finds three-quarters of businesses deterred by perceived green levies.
• Ministers are set to publish an industrial strategy expected to boost nuclear power and extend the British Industry Supercharger scheme, which aims to save firms £5bn over ten years.