Reeves gives more energy bill support to businesses as Iran war pushes up costs

Rachel Reeves said the scheme would cut energy bills for more than 10,000 manufacturers. Photograph: Jack Taylor/PA

Rachel Reeves has announced an expansion of support for the most energy-intensive UK businesses, as they face soaring bills as a result of the Middle East conflict.

The chancellor said the long-promised British Industrial Competitiveness Scheme (BICS) would be expanded to cover 10,000 companies, up from the 7,000 originally announced.