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.


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