British industries hit by soaring energy costs have warned the government that it is running out of time to stop hard-hit companies from going bust.
Adam Scorer, chief executive of National Energy Action, on Monday said the government needs to do more to protect consumers and "put some more cash in the pockets of the financially vulnerable households".
"At the moment we've got some mechanisms which are there to protect consumers, the price cap, certain rebates, other mechanisms, but they're for a well-functioning, competitive, energy market. They're not fit for the challenge of the cost-of-living crisis that we face at the moment," he said.
Escalating energy prices have also caught industrial consumers in a vice of financial constraint and stalled demand, leading to talks with the government in which executives are demanding bailouts.
Business Secretary Kwasi Kwarteng was at the centre of a storm after the powerful Treasury briefed that it was not entertaining discussions with his department on cash for the struggling sectors.
One business leader called on Prime Minister Boris Johnson to intervene directly in the war of words across the UK Cabinet table. "This is a critical time. The business secretary has also said it's a critical situation, and therefore why is the government just sitting on its hands and doing absolutely nothing at the moment?” said Gareth Stace, director general of UK Steel.
"The prime minister now needs to bang ministerial heads together, take control and remember that if he does nothing, then his levelling-up ambition will be left in tatters."
While Mr Kwarteng has pledged to keep the energy price cap in place to protect households struggling with rising costs, he has offered no additional support for businesses after bosses and some Conservative MPs called for help to prevent them going under as wholesale prices soar.
Wholesale gas prices have risen 250 per cent this year, placing financial strain on businesses that require large amounts to products made from steel, glass, ceramics and paper.
Some factories are reporting being “on the brink” of closure, with concerns that plants that shut down may never open again.
Industry fears over the survival of some factories are set against a backdrop of warring ministers, after the two departments responsible for handling the crisis fell out.
While Mr Kwarteng said on Sunday that struggling manufacturers and energy firms would not receive much more support because the government was “not in the business of bailouts”, he later said that he was working closely with Chancellor of the Exchequer Rishi Sunak to help the industry.
“I’m working very closely with Rishi Sunak ... to get us through this situation. I think he showed a great deal of flexibility when he allowed £500 million to be dispersed by local authorities for vulnerable consumers, and we’re working to see what we can do in terms of protecting industry,” he said.
However, a senior Treasury source has since denied the claim, saying no such talks took place despite manufacturers pleading for help to prevent further collapses.
About a dozen energy suppliers have failed since the start of August because of rising energy costs, with BP-backed Pure Planet the latest provider close to collapsing, as talks get under way with the regulator Ofgem to transfer customers to another energy company.
Consumers are starting to feel the pain after a price cap was increased at the start of the month and will face another jump in April.
While a “perfect storm” has pushed fossil fuel prices to record highs, Mark Haefele, chief investment officer at UBS Global Wealth Management, expects energy prices to stabilise over the next 12 months.
Demand for energy has rebounded sharply as economies reopen after the Covid-19 pandemic forced widespread closures, while at the same time weather-related power cuts, integration challenges with renewables, geopolitics and supply-chain bottlenecks have constrained supply.
The rise in energy prices is creating concerns over stagflation but Mr Haefele said such fears are overstated.
“Overall we expect only a modest impact on growth and inflation from the current increase in energy prices. The risk to our analysis is a harsh Northern Hemisphere winter that causes energy prices to spike again, disrupts industrial production and delivers a larger hit to GDP," Mr Haefele said.
Meanwhile, climate activists from Greenpeace erected a mock Boris Johnson statue stained with oil outside No 10 Downing Street on Monday.
The group has warned the prime minister that he will “make a fool of himself” if he approves oil drilling at Cambo, an oilfield in the North Sea, before the Cop26 climate change summit in Glasgow.
“We delivered Boris Johnson the statue his legacy deserves if he approves the new oil drilling at Cambo. A statue dripping in oil,” the campaign group tweeted.
Their demonstration comes as Mr Johnson, his wife Carrie and their young son are on holiday in Marbella, Spain.
MATCH INFO
Manchester City 3 (Sterling 46', De Bruyne 65', Gundogan 70')
Aston Villa 0
Red card: Fernandinho (Manchester City)
Man of the Match: Raheem Sterling (Manchester City)
SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2)
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Evacuations to France hit by controversy
- Over 500 Gazans have been evacuated to France since November 2023
- Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
- The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
- Artists and researchers fall under a programme called Pause that began in 2017
- It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
- Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
- Unlike students, they are allowed to bring their families to France
Emirates exiles
Will Wilson is not the first player to have attained high-class representative honours after first learning to play rugby on the playing fields of UAE.
Jonny Macdonald
Abu Dhabi-born and raised, the current Jebel Ali Dragons assistant coach was selected to play for Scotland at the Hong Kong Sevens in 2011.
Jordan Onojaife
Having started rugby by chance when the Jumeirah College team were short of players, he later won the World Under 20 Championship with England.
Devante Onojaife
Followed older brother Jordan into England age-group rugby, as well as the pro game at Northampton Saints, but recently switched allegiance to Scotland.
Islamic%20Architecture%3A%20A%20World%20History
%3Cp%3E%3Cstrong%3EAuthor%3A%3C%2Fstrong%3E%20Eric%20Broug%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Thames%20%26amp%3B%20Hudson%3Cbr%3E%3Cstrong%3EPages%3A%3C%2Fstrong%3E%20336%3Cbr%3E%3Cstrong%3EAvailable%3A%3C%2Fstrong%3E%20September%3C%2Fp%3E%0A
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
Who are the Soroptimists?
The first Soroptimists club was founded in Oakland, California in 1921. The name comes from the Latin word soror which means sister, combined with optima, meaning the best.
The organisation said its name is best interpreted as ‘the best for women’.
Since then the group has grown exponentially around the world and is officially affiliated with the United Nations. The organisation also counts Queen Mathilde of Belgium among its ranks.
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
