Home Business News Shocking new analysis reveal eye-watering cost to UK of energy imports as Sunak pushes new bill 

Shocking new analysis reveal eye-watering cost to UK of energy imports as Sunak pushes new bill 

by LLB political Reporter
23rd Jan 24 9:27 am

Annual UK energy imports now cost the nations same as total defence budget, GMB has revealed.

Ahead of the second reading of the government’s Offshore Petroleum Licensing Bill in Parliament, the GMB union attacked the government over the repeated failure to secure energy resources for the nation.

The annual net cost of importing energy to the UK is £56 billion, whilst the UK’s annual defence budget is £57 billion.

Gary Smith, GMB General Secretary, said, “The Conservative government’s failure, over many years, to develop and secure domestic energy sources means the annual net cost of our nation’s energy imports soared to an eye-watering £56 billion in 2022.

“The cost of importing this energy is shocking and almost the exact same amount as the UK’s annual defence budget.

“In an increasingly volatile world, the UK desperately needs better control over our energy supplies.

“In pounds and pence alone, it’s clear the national interest is badly served when energy and industrial policy is left in Tory hands.”  

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