Britain's sky-high energy costs have wiped £30BILLION off UK GDP, report finds
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Britain's sky-high energy costs have wiped £30BILLION off UK GDP, report finds.
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Sky-high industrial energy costs have wiped £30billion from UK GDP, analysts say.
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Energy bills for British businesses are the highest in Europe, resulting in power-hungry industries struggling to keep pace with international peers, researchers from EY say.
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This has meant these sectors have shrunk as the wider economy grew, with an estimated cost to GDP of £30billion since 2019.
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EY's UK Economic Outlook report for May finds that in 2019, industrial energy prices were "broadly comparable" to those on the continent.
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