Overview

• Sir Jim Ratcliffe called for removal of green levies from industrial energy, scrapping of carbon charges, faster trade remedies and targeted carbon border measures.
• Ineos confirmed 60 job losses at its Hull acetyls plant this week and the closure of two facilities in Rheinberg, Germany, with 175 jobs lost.
• Ratcliffe warned up to one million direct jobs, and as many as five million including suppliers, could be at risk if policymakers do not act quickly.
• He cited gas and electricity prices four to five times higher than in the U.S. and pointed to low‑priced, coal‑based Chinese imports facing U.S. tariffs but few barriers in Europe.
• Ineos has halted its 2024 dividend, reported €10.6bn of debt and a hiring freeze, while an Oxford Economics report it commissioned details sharp output declines across major European countries.