Home Business NewsBusiness UK manufacturers fear blackouts and job losses

UK manufacturers fear blackouts and job losses

by LLB Reporter
9th Jan 23 10:56 am

Almost two-thirds of manufacturers in Britain fear blackouts this winter amid the fallout from the energy crisis, according to an industry survey.

Trade body MakeUK said the impact from sky-high energy costs on manufacturers showed no sign of abating, as concern grows about government plans to cut financial support for businesses.

According to a survey of more than 200 senior manufacturing industry bosses by MakeUK and the accountancy firm PwC, almost three-quarters of companies (70%) expect their energy costs to increase this year, with two-thirds saying they expect to cut production or jobs as a result.

The industry group, which represents 20,000 UK manufacturers, said that cutting financial support would exacerbate job losses and reduce factory output, hurting the economy.

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