At this time, for what is an unsettling period in Britain’s history, UK Manufacturing now Editor’s Comment ‘’needs decisive action from the new Government to help it through a prolonged period of rising cost of raw materials and critical labour shortages in order to keep Britain’s place as a leader of innovation on the world stage.

It is therefore extremely welcome action from the new Government that it will help shield businesses from catastrophic rises in energy costs. Freezing prices will limit some of the damaging hardship faced by both families and businesses this winter and in turn protecting the wider economy.

As highlighted by CBI Chief Economist Rain Newtown-Smith, skyrocketing energy prices could have made many well-run businesses unviable this winter and these measures will help ensure that fewer fail.

However, as he highlights, the devil will now be in the detail to come. Government, businesses, and energy suppliers must work together to ensure the support pledged gets to firms quickly.

It’s also encouraging that more targeted measures are to be introduced for businesses in sectors that are most at risk as this energy crisis is not impacting all firms equally.

Although freezing energy prices the Government is backing UK business by helping all firms across the economy, doubling down on net zero is the route out of this crisis, and businesses are increasingly aware of this need. It is the only long-term strategy to help grow our economy and the way we make ourselves more energy resilient for the future.

Aaron Blutstein, editor