Poll results: Government support for industry energy bills

Of the many pressing issues facing Liz Truss - the UK’s fourth Conservative prime minister in six years - action on rising energy costs is undoubtedly top of the list.

Without offering any specific details so far, Truss has promised to announce a plan - possibly within the next couple of days - that will hopefully alleviate some of the anxieties facing millions of households across the UK. Options on the table include a freeze on the energy price cap, tax cuts and targeted support for the most vulnerable.

But whilst action for households will understandably dominate the headlines, businesses across the UK will also be nervously awaiting details on how government might help them survive the tough months ahead.

With no energy price cap in place for businesses, the increases faced by households could be amplified in the commercial world, not least in the energy intensive fields of manufacturing and engineering.   

Indeed, according to research published last week by industry body Make UK, 60 per cent of manufacturers believe they could soon face a stark choice between cutting production or closing down permanently. In fact, 12 per cent of manufacturers say they have already made job cuts as a result of rising energy prices, and over 70 per cent believe UK government isn’t doing enough to support industry.  

In last week’s poll we asked what support you believe is required to keep UK manufacturers on their feet. Should the incoming PM introduce an energy price cap that freezes energy prices for industry and removes some of the doubts and uncertainties that are hampering investment decisions and stifling growth? Or should government assistance be more carefully targeted, with – for instance – firms most at risk receiving bail-outs and direct financial support?

The Poll is closed but your thoughts on this subject are welcome in Comments below.