Simon Boyd, Managing Director of John Reid & Sons (Strucsteel) Ltd, comments upon energy support measures announced today:
“Our new Prime Minister’s intervention to freeze energy costs is clearly welcome although it would have been preferable to see the timescale expanded beyond six months for businesses.
“Capping energy costs at the same price per unit that households pay will help and it will be useful to see more details about this in order to gain greater clarity for budgeting over the coming months.
“It is encouraging to see further support promised for vulnerable sectors beyond the initial six months’ package based on a review this autumn, during which time I will forcefully be pressing the case for manufacturing and the steel industry.
“Overall, the new Prime Minister has recognised the necessity of tackling the underlying causes of the energy cost crisis which is critical for the long security of our energy supply and economic resilience to ensure our country is self-sufficient and not at the mercy of international markets or events.”