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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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17 Articles

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Daily RecordDaily Record
Left

Jim Ratcliffe blames energy costs as billionaire closes Grangemouth plant

Ineos has shuttered its ethanol production facility at Grangemouth amid continued uncertainty about the wider site's long-term future.

·Glasgow, United Kingdom
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Guido FawkesGuido Fawkes
Right

Labour Warned Net Zero Killing Chemical Industry

Labour’s Net Zero crusade is costing Britain billions and doing little to cut global emissions according to petrochemicals group Ineos boss Jim Ratcliffe. The industry leader warned that the UK’s chemical sector faces “extinction” as green policies drive up energy costs, forcing households and businesses to pay more thanks to so-called carbon permits.  […] Read the rest

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BBC NewsBBC News
Center

Grangemouth closure and 'bruised' business confidence

Ineos announces says its ethanol plant at Grangemouth has closed and issues warnings about the future of the chemical industry.

·United Kingdom
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The NationalThe National
Lean Left

Jim Ratcliffe in industry 'extinction' warning as plant at Grangemouth closes

INEOS chairman Jim Ratcliffe has accused ministers of overseeing the extinction of the UK’s chemical manufacturing industry...

·Glasgow, United Kingdom
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The ScotsmanThe Scotsman
Reposted by
Falkirk HeraldFalkirk Herald
Center

Sir Jim Ratcliffe warns of industry 'extinction' as Grangemouth plant closes

Ineos chairman’s plea on energy prices and carbon taxes as ethanol plant shuts down

·Scotland, United Kingdom
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Financial TimesFinancial Times
Center

Britain’s chemical industry dying out, says Jim Ratcliffe

Ineos owner hits out at high energy prices as petrochemicals group shuts down ethanol production at Grangemouth

·London, United Kingdom
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57% Center
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Financial Times broke the news in London, United Kingdom on Monday, January 13, 2025.
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