UK’s Reeves to Set Out Plans to Help Business With Energy Bills

The UK government will set out plans to boost the competitiveness of businesses at a time of rising energy bills, Chancellor of the Exchequer Rachel Reeves said, while warning against heavy government borrowing.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — The UK government will set out plans to boost the competitiveness of businesses at a time of rising energy bills, Chancellor of the Exchequer Rachel Reeves said, while warning against heavy government borrowing.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.Writing in an opinion column in The Times of London, Reeves said the war in Iran “will come at a cost” to families and businesses. Ensuring that the ceasefire holds is “the best protection we have against higher costs at home,” she wrote. US and Iran failed to reach a peace deal after talks in Pakistan, throwing doubt on whether both sides can find a lasting resolution. Reeves and fellow economic policymakers will gather in Washington this week for the International Monetary Fund and World Bank’s spring meetings, where freedom of navigation and the disruption of global energy markets will be top of the agenda. “I know that rising energy bills are not only felt by households,” Reeves wrote in The Times. “They are felt by business too, including the UK’s manufacturing sector that has faced uncompetitive energy prices for too long.”Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Reeves said she will set out the next phase of plans “to boost Britain’s competitiveness” this week, as well as the principles that will guide future support for businesses. She did not provide further details.The indication of support comes with the caveat of disciplined spending. Reeves warned against heavy government borrowing in an inflation shock, citing the debt incurred by the previous government for energy support measures following Russia’s invasion of Ukraine.“We are backing British industry to compete, including by tackling high electricity costs, while protecting household bills in a disciplined way that does not load permanent costs on to those same households,” she wrote.Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.