Industrial firms to face £685m property tax hit after energy support pledge
Industrial firms are to be hit with nearly £700 million in new property taxes, offsetting some of the Government’s move to slash their energy bills to boost competitiveness, experts have warned.Just a week after the Government’s industrial strategy revealed electricity costs for about 7,000 energy-intensive businesses would be cut by scrapping green levies, estimates suggest many of the larger firms are set to see their business rates bill soar.Around 4,300 large-scale industrial properties in England – across manufacturing sectors such as automotive, aerospace and chemicals – will face a new...



