UK warns of massive business closures

MOSCOW, 3 Sep — PRIME. Six out of 10 businesses in the UK may close due to rising electricity prices, Bloomberg reports, citing the British association of manufacturers Make UK.

Soaring energy bills could shut down six out of ten industries in the country, according to the association’s study.

It is noted that about half of the enterprises experienced an increase in electricity bills by more than 100% over the past year.

Earlier, the British energy regulator Ofgem announced an 80% increase in the maximum allowable electricity bill for consumers from October 1 due to rising global energy prices. Thus, the maximum bill for the British could increase by 1578 pounds, or 80%. The head of the energy regulator, Jonathan Brearley, warned that energy prices are likely to continue to rise, and called on the future Prime Minister of the United Kingdom to take new measures to combat rising prices.

After the start of the special operation of the Russian Federation in Ukraine, the West increased sanctions pressure on Russia. The disruption of supply chains has driven up fuel and food prices in Europe and the US. In the UK, the rising cost of living has hit millions of households. Russian President Vladimir Putin said that the policy of containment and weakening of Russia is a long-term strategy of the West, and the sanctions dealt a serious blow to the entire global economy. According to him, the main goal of the West is to worsen the lives of millions of people.