Rising energy costs could drive investment away from UK: EEF

Posted on 13 Oct 2014 by Callum Bentley

Britain’s ambitions for a better-balanced economy could be seriously undermined by escalating energy costs, warns a new report by EEF.

The report projects a 50% hike in electricity costs by 2020 and claims the hike would hit investment, margins and competitiveness, potentially applying a brake to economic growth. It goes further to state that just 4% of manufacturers would be left unscathed.

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73% of manufacturers say the projected rise in electricity…