Factories can be forced without fresh funds. Stop production According to government and industry sources, key inputs such as high-tech ceramic coatings, steel components and bespoke glassware. Such products are used in high security environments, including nuclear reactors, laboratories, ships and submarines.
According to industry and government sources, if these domestic companies fail, the UK will be forced to get a lot of input from abroad. It may violate some departmental procurement rules and government targets set out in the Integrated Review. The review promises to “strengthen the resilience of our key supply chains” so that the UK can engage with China “with confidence”.
The government is trying to get China out. Major nuclear energy projects Security concerns sparked last month with plans to force Chinese energy giant CGN to give up its 20% stake in the Sioux Wells nuclear plant in Suffolk.
Concerns over whether failing to secure funding will push sensitive suppliers off the wall, increasing pressure on the exchequer, said Business Secretary Kosi Quarting to the Department for Industries Most Affected by Rising Energy Prices. Presented a plan for
Made by the Cabinet Minister. Formal application from Rishi Sink Department. To help the energy industry on Monday amid rising calls for emergency aid and warnings of job losses. It held a series of bilateral meetings on Monday with representatives of the ceramics, steel, glass and chemical industries.
The new drive to become involved in the industry came later. Free It was revealed last week that factories in these sectors could shut down production lines within weeks if government support was not forthcoming to reduce the pressure from rising energy costs. Energy could account for a third of these firms’ costs, leaving them vulnerable to the recent rise in electricity and gas prices.
An official source said. Free That BEIS (Department for Business, Energy and Industrial Strategy) made suggestions to Mr. Sink’s department – but the details were not immediately clear. He acknowledged the role of manufacturers in key supply chains as part of his discussions with both the industry and business sectors.
A spokesman for the Business Department said: “We are committed to securing a competitive future for our energy industries and their dependent sectors, including nuclear and defense, and have provided them with extensive support in recent years, including b More than 2 2 billion in energy costs and job security.
“This underscores the importance of our plan to end the UK’s dependence on fossil fuels in the face of volatile global gas prices and to build a strong, domestically developed sector so that we can support consumers in these industries, including future gas prices.” Protect from the international market
Mr Quarting’s request comes after a public dispute between the two departments over the weekend. The business secretary was accused of “making things up” during broadcast interviews, when he suggested that the Treasury was negotiating support for the heavy industry.
No. 10 tried to draw a line at the bottom of the line on Monday, backing the business secretary and insisting that the Treasury was playing a role in the White House negotiations.
“This is a major challenge, and the government is working to reduce it,” said an official spokesman for the prime minister.
However, he declined to confirm and declined to say whether the “mitigation” would include financial support, saying: “I will not go beyond any further talks. It is true that we They listen carefully to what the industry is saying and discuss with the government whether any action is needed to mitigate the challenges.
There is a recent example of government intervention in the sectors most affected by rising energy costs. In July, the Ministry of Defense (MOD) bought the steelmaker Sheffield Forge Masters. He said the move would protect equipment for defense and nuclear programs.
Last month, the government also provided a temporary bailout to CF Fertilizer, which produces about 60 per cent of the UK’s carbon dioxide in food stocks used in metal production in industries.
The sharp rise in energy prices signals a new test of the UK’s dependence on energy imports. Although Britain does not normally source its natural gas from Russia, other major European economies do. Russia’s reluctance to increase its exports to the continent in the face of supply shortages has increased pressure on some of Britain’s key suppliers, such as Norway.
Conservative front bench Lord Agno also said Monday that rising energy costs have nothing to do with a shortage of global gas reserves, but rather a “geopolitical move” by Russia to put pressure on Europe. These remarks appear to be the strongest language ever used by the government, with the finance minister pointing the finger directly at Moscow over the current crisis.
“The current pressure on gas prices has nothing to do with the amount of gas,” he told colleagues in the House of Lords. “This is a geopolitical move by Russia to put pressure on Europe and we are stuck in it. The public ownership of our own utilities will not matter.
After peers’ comments, Labor’s shadow chancellor, Rachel Reeves, called on the Treasury to help the energy industry. He also accused the chancellor of “disappearing into action” during the crisis.
“A temporary increase in energy prices should not mean the disappearance of great industries such as steel, ceramics, glass, paper and chemicals, simply because they are more energy-intensive,” the shadow chancellor said. “On the situation