London, United Kingdom. Britain’s new prime minister should cut energy levies paid by businesses to support economic growth, the Confederation of British Industry and Energy UK said on Tuesday.
The groups said 40% of firms were reducing investment because of high energy costs, with electricity prices 45% above the Group of Seven median.
Call for lower costs
The Confederation of British Industry and Energy UK urged the incoming government to reduce energy levies for businesses as former Manchester mayor Andy Burnham was expected to enter Downing Street.
Investment pressure
The organisations said elevated energy costs were affecting business investment decisions across Britain.