UK To Cut Energy Subsidies To Business
According to the country’s Finance Ministry, Britain would reduce its energy subsidies to businesses by £5.5 billion ($6.7 billion).
« With a maximum of £5.5 billion, the new program achieves a mix between helping firms for the upcoming year and reducing taxpayer exposure to uncertain energy markets. This gives long-term businesses a sense of security and illustrates how the problem’s size has altered since last September, » according to a statement published on the website of the government.
The Ministry of Finance wants to cut support, as previously mentioned, despite estimates that the current program has so far cost around £18 billion.