Commenting on rising energy prices, Stephen Phipson, CEO of Make UK, the manufacturers’ organisation said:
“Global Gas supply shortages and the resulting energy price rises are already having a distinct impact on energy intensive industries such as steel, chemicals and automotive. And we are starting to identify problems in many manufacturing processing areas including food and drink, around the shortages of CO2 as a consequence of suspended production due to these high energy costs.
“These tremors are expected to worsen in the coming days and weeks unless Government can find a solution to the CO2 shortages in particular. We are seeing threats of food shortages in our stores and an impact on seasonal food products such as turkey. When combined with inflation burdens, increased cost of raw material and wage pressures taken together with the challenges around HGV driver shortages, this creates a perfect storm which will impact on the much needed post-Covid recovery. Government needs to provide support to British industry to give it breathing space that allows economic recovery that is essential to economic stability.”