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.
17 Articles
17 Articles
Ineos boss Sir Jim Ratcliffe: UK chemical manufacturing 'having the life squeezed out of it'
Ineos boss Sir Jim Ratcliffe has warned British chemicals manufacturing is having the “life squeezed out of it” by the government, and is on the verge of extinction. The business titan slammed the de-industrialising of Britain, which started in the 1970s and 1980s, and criticised the government for a lack of energy strategy and high carbon taxation. The chemicals giant made his comments after years of strain on energy prices, made worse by the R…
Blame game as UK's last synthetic ethanol plant shuts at Grangemouth
Billionaire industrialist Sir Jim Ratcliffe has blamed Britain's lack of industrial strategy and levies on carbon polluters for the closure of the UK's last plant producing synthetic ethanol. The post Blame game as UK’s last synthetic ethanol plant shuts at Grangemouth appeared first on Energy Voice.
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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