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Britain’s chemical industry dying out, says Jim Ratcliffe

  • Production has ended at the last ethanol plant in Britain, which was one of only two in Europe, affecting 500 jobs according to Ineos.
  • Sir Jim Ratcliffe claims the UK chemical industry is dying due to high energy costs and carbon taxes, making it unable to compete with producers in other countries.
  • The Chancellor, Rachel Reeves, faces political pressure to improve the economy as bond markets show lowered confidence in the government's strategy for growth.
  • A Deloitte survey reveals CFOs prioritize cost-cutting over investment due to increased payroll costs, with hiring intentions at their lowest in four years.
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  • 57% of the sources are Center
57% Center
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Financial Times broke the news in London, United Kingdom on Monday, January 13, 2025.
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