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Almost two-thirds of manufacturers in Britain fear blackouts this winter amid the fallout from the energy crisis, according to an industry survey, as concerns grow about government plans to cut financial support for businesses. As the chancellor, Jeremy Hunt, prepares to announce a sharp reduction in industry support, the trade body Make UK said the impact from sky-high energy costs on manufacturers showed no sign of abating. – Guardian
British households are only halfway through a two-year cost of living crisis, with average incomes likely to fall by more than £2,000, a leading thinktank has warned. Typical disposable incomes for working-age family households are on track to fall by 3% in this financial year, and by 4% in the year to April 2024, according to the Resolution Foundation. – Guardian
The British satellite champion OneWeb has shut down one of its first test sites in Alaska amid a struggle to compete with Elon Musk’s company SpaceX. Taxpayer-backed OneWeb closed the facility following claims by Alaskan telecoms executives that its service was impractical and costly. Other services remain online in the state. – Telegraph
BP plans to build its first solar farm with battery storage on a site in Tiln Farm, Retford, as it prepares to make the technology the norm globally. Nick Boyle, the head of energy giant BP’s solar joint venture, says he believes battery storage technology will be widely included as part of solar farms, helping to tackle the problem of intermittent energy. – Telegraph
Three prime ministers, four chancellors and three business secretaries in a year have cost Britain its appeal to foreign investors, say manufacturing bosses. Members of Make UK, the manufacturing trade body, have in previous surveys blamed the impact of Brexit on trade costs and customs barriers. However, it is the government’s management of the economy since Britain left the European Union that is now angering industrial leaders. – The Times
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