Britain’s Industrial Strategy Aims to Slash Energy Costs for Manufacturers

Britain's new industrial strategy, set to be unveiled on June 23, pledges significant economic development by reducing electricity bills for energy-intensive manufacturers by up to 25% starting in 2027. The MOVE could benefit over 7,000 businesses, addressing long-standing complaints about high energy costs undermining competitiveness.

The government's decade-long plan (2025-2035) responds to industry pressure, particularly from groups like Make UK, which has called for the removal of climate levies on companies. With the U.S. and EU also pursuing industrial support policies, the strategy aims to sharpen Britain's competitive edge in a global trade environment reshaped by recent tariff wars.

Five sector-specific strategies will accompany the main plan, targeting advanced manufacturing, creative industries, and clean energy among others. This comes as Britain seeks to revitalize sluggish growth while balancing industrial needs with climate commitments.