Latest news with #EnergyPriceReliefScheme
Daily Record
15 hours ago
- Business
- Daily Record
New industrial strategy is a 'huge opportunity' for businesses in West Lothian
Energy costs will be slashed by a quarter for eligible manufacturers Gregor Poynton MP has backed the industrial strategy revealed this week by the Labour government insisting it's a huge opportunity for Livingston and West Lothian. The UK's Modern Industrial Strategy is a bold 10-year plan to boost local businesses, enhance skills and support growth. It aims to tackle the barriers holding back British businesses and unlock investment across the country. The Industrial Strategy will promote business investment and growth and make it quicker, easier and cheaper to do business in the UK, giving businesses the confidence to invest and create 1.1 million well-paid jobs in thriving industries – delivering on this government's Plan for Change. As part of the announcement, energy costs will be slashed by 25 per cent for eligible manufacturers, bringing prices in line with Europe and accelerating grid connections through the new Energy Price Relief Scheme. The strategy will focus on eight key growth sectors including clean energy and life sciences supporting 118,952 jobs across Scotland. Gregor Poynton, MP for the Livingston constituency said: 'This Industrial Strategy is a huge opportunity for Livingston and West Lothian. By cutting energy costs and unlocking record levels of investment, it will directly benefit the sectors that power our local economy from advanced manufacturing and logistics to life sciences and technology. 'It means that major local employers like Mitsubishi, Sky, Shin-Etsu, Wyman Gordon, Valneva and other firms based across West Lothian be better placed to grow, invest and create more good, secure jobs for local people. 'This long-term plan will help deliver more apprenticeships for young people, fresh opportunities for skilled workers, and the stability our local businesses need to thrive. 'The strategy builds on the Spending Review and Infrastructure Plan, targeting support where it's needed most and making it easier for all businesses to thrive. It aims to double business investment in growth sectors to £240bn annually by 2035.' 'This is proof that Labour is delivering on its Plan for Change and committed to delivering the long-term stability and investment that industry needs to grow.' Business and Trade Secretary Jonathan Reynolds said: 'We've said from day one, Britain is back in business under this government and our Plan for Change is already delivering for working people. 'This Strategy will ensure the UK is the best place to invest and do business, delivering growth that puts more money in people's pockets and pays for our NHS, schools and military.'
Scotsman
2 days ago
- Business
- Scotsman
Gregor Poynton MP backs Industrial Strategy to boost local businesses, enhance skills and support growth across the Livingston Constituency
The government has this week unveiled the UK's Modern Industrial Strategy, a bold ten-year plan to tackle the barriers holding back British businesses and unlock investment across the country. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... As part of the announcement, energy costs will be slashed by 25% for eligible manufacturers, bringing prices in line with Europe and accelerating grid connections through the new Energy Price Relief Scheme. Key measures include: • Energy prices cut by 25% for 1000s of businesses across the country Advertisement Hide Ad Advertisement Hide Ad Gregor Poynton MP with Business Secretary, Jonathan Reynolds MP. • Unlocking billions in business finance, including for SMEs through the British Business Bank and National Wealth Fund. • Investing over £20bn in R&D for growth sectors • Cutting regulation costs by 25% and streamlining planning for major projects. The Industrial Strategy is a ten-year plan to promote business investment and growth and make it quicker, easier and cheaper to do business in the UK, giving businesses the confidence to invest and create 1.1 million good, well-paid jobs in thriving industries – delivering on this government's Plan for Change. The Strategy will focus on eight key growth sectors including clean energy and life sciences supporting 118,952 jobs across Scotland. Advertisement Hide Ad Advertisement Hide Ad Commenting on the announcement, Gregor Poynton, Member of Parliament for the Livingston constituency said: 'This Industrial Strategy is a huge opportunity for Livingston and West Lothian. By cutting energy costs and unlocking record levels of investment, it will directly benefit the sectors that power our local economy from advanced manufacturing and logistics to life sciences and technology. 'It means that major local employers like Mitsubishi, Sky, Shin-Etsu, Wyman Gordon, Valneva and other firms based across West Lothian be better placed to grow, invest and create more good, secure jobs for local people. 'This long-term plan will help deliver more apprenticeships for young people, fresh opportunities for skilled workers, and the stability our local businesses need to thrive. 'The Strategy builds on the Spending Review and Infrastructure Plan, targeting support where it's needed most and making it easier for all businesses to thrive. It aims to double business investment in growth sectors to £240bn annually by 2035.' Advertisement Hide Ad Advertisement Hide Ad 'This is proof that Labour is delivering on its Plan for Change and committed to delivering the long-term stability and investment that industry needs to grow.' Business and Trade Secretary Jonathan Reynolds said: 'We've said from day one, Britain is back in business under this government and our Plan for Change is already delivering for working people. 'This Strategy will ensure the UK is the best place to invest and do business, delivering growth that puts more money in people's pockets and pays for our NHS, schools and military.'
