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A short update from us this week

Manufacturing Mondays
Manufacturing Mondays
Due to recent events, we’re keeping this week’s update short.
We’ll be back w/c 26th September.

Everyone connected with UK manufacturing will be deeply sorry to hear of the passing of Her Majesty the Queen.
The Nation owes her an immense debt for the duty and public service to which she dedicated her life in the UK, the Commonwealth and around the World.
The sector will want to send their thoughts and prayers to her Family.
Her Majesty The Queen 1926 - 2022
Her Majesty The Queen 1926 - 2022
Energy announcement
Earlier last week, the Government set out its ‘Energy Price Guarantee’ for consumers and businesses to tackle energy bills.
From 1st October, a new ‘Energy Price Guarantee’ will mean a typical UK household will now pay up to an average of £2,500 a year on their energy bill for the next two years. This is automatic and applies to all households.
In her speech, Prime Minister Liz Truss said businesses and public sector organisations will see equivalent support over the winter. This will likely take the form of a reduction in the wholesale price for businesses.
We of course welcome the start of an immediate, bold and concerted effort by the Government to get spiralling energy costs for businesses down. It is essential that the reduction of wholesale prices is fully passed to manufacturers’ bottom line energy bills - especially given 60% of manufacturers said energy costs are now business threatening.
But this must be the starting pistol in what will be a long-term race to transform our energy usage, cost and security of supply. This has to include substantial measures to drive energy efficiency, reduce reliance on the grid through incentives for on-site generation and a large-scale and long-term reform of the wholesale electricity market.
We expect to hear more details about the exact discount and timings at a Fiscal Statement, expected to be made by the Chancellor later this month.
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Copy editor: Bhavina Bharkhada, Head of Policy & Campaigns
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Manufacturing Mondays
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