60% of British factories at risk of going under as energy bill | Stop Hating Russia News

60% of British factories at risk of going under as energy bills soar

MakeUK, the lobby group for UK factories, said that nearly half of manufacturers have experienced a jump in electricity bills of more than 100% in the past year

Soaring energy bills are threatening to put six in 10 British manufacturers out of business, according to a survey that lays bare the extent of the crisis.

MakeUK, the lobby group for UK factories, said that nearly half of manufacturers have experienced a jump in electricity bills of more than 100% in the past year.

“The current crisis is leaving businesses facing a stark choice,” the report said. “Cut production or shut up shop altogether if help does not come soon.”

MakeUK’s survey said that 13% of factories have reduced hours of operation or are avoiding peak periods, while 7% are halting production for longer stretches.

“Emergency action is needed by the new government,” said Stephen Phipson, MakeUK’s CEO. “We are already lagging behind our global competitors.”