Starmer Slashes Net Zero Taxes to Save Britain’s Industries
Net Zero taxes will be slashed by up to 25% for thousands of manufacturers as Keir Starmer scrambles to save British industry from electricity costs that are the highest of any developed country. The Telegraph has more.
As part of the Government’s long-awaited Industrial Strategy, the Prime Minister is to cut power bills by up to 25% for some 7,000 “electricity intensive” manufacturers, including car makers, aircraft factories and chemical plants.
From 2027, they will no longer have to pay the Net Zero levies that are normally added to their power bills, such as the renewables obligation, the feed-in-tariff and capacity market charges.
This will be paid for by financial reforms to the energy market and a raid on companies that burn natural gas, through higher carbon taxes, the Government said.
However, the support was at risk of being diluted on Sunday as Iran’s threat to cut off a vital oil and gas supply route in the Middle East risked sending energy prices around the globe soaring.
It comes after repeated warnings that British manufacturers are labouring under the highest industrial electricity prices of any developed country, with output down by a third since 2021.
Sir Keir’s announcement was welcomed by manufacturers, including Derby-based Rolls Royce, as a “giant and much needed step forward”.
The Prime Minister said: “This Industrial Strategy marks a turning point for Britain’s economy and a clear break from the short-termism and sticking plasters of the past.
“In an era of global economic instability, it delivers the long term certainty and direction British businesses need to invest, innovate and create good jobs that put more money in people’s pockets as part of the plan for change.
“Our message is clear – Britain is back and open for business.”
Worth reading in full.
However, Net Zero Watch (NZW) dismissed the move as a gimmick that is “robbing Peter to pay Paul”, as the cost of the discount has to be paid somehow, with hints that gas users will foot the bill.
NZW Director Andrew Montford said:
Ed Miliband is once again merely proposing to shuffle costs from one energy user to another. Robbing Peter to pay Paul is all he has to offer, because his mad fixation on decarbonisation means he will not look at the underlying problem, namely the gross inefficiency of a renewables-based grid.
This latest wheeze will bring temporary relief for sectors favoured by the Secretary of State, but at the expense of others, who can ill afford it. And in the medium term, bills will continue to rise for everyone. The country can’t afford this madness any longer.
See more here Daily Sceptic
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Gregoryno6
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Starmer is cutting Net Zero levies imposed upon manufacturers who are still around in 2027.
Fixed it for you.
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VOWG
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You want to do something positive, dump “net zero” as it is a physical impossibility.
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George Tomaich
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These legislators can’t be that obtuse as not to see the destructive effects of the Net Zero policies on the economy. Therefore, their actions are intentional and they are using the bogus global warming narrative to justify their subversive policies.
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