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Evening Standard
Evening Standard
Business
Henry Saker-Clark

Chancellor to cut electricity bills for thousands more UK firms

Rachel Reeves Electricity United Kingdom Iran
The British Industrial Competitiveness Scheme will cut costs by up to £40 per megawatt-hour from 2027 (David Davies/PA) - (PA Wire)

The Government has expanded plans to cut electricity bills for thousands of UK manufacturing firms as the conflict in the Middle East pushes energy costs higher.

Chancellor Rachel Reeves announced the action to support firms after warning over the lingering impact of the Iran war on inflation and economic growth.

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