Newsnero
No Result
View All Result
  • Home
  • Business
    What’s next for bitcoin as the cryptocurrency wrestles with $24,000

    What’s next for bitcoin as the cryptocurrency wrestles with $24,000

    GM reveals new GMC Canyon premium midsize pickup, starting at $40,000

    GM reveals new GMC Canyon premium midsize pickup, starting at $40,000

    WWE discloses $5 million in McMahon payments, delays earnings report

    WWE discloses $5 million in McMahon payments, delays earnings report

    Ford increasing price of electric F-150 Lightning

    Ford increasing price of electric F-150 Lightning

  • Economy
    Parents cut back on children’s pocket money as UK inflation bites

    Parents cut back on children’s pocket money as UK inflation bites

    British energy bills forecast to soar above £5,000 next year

    British energy bills forecast to soar above £5,000 next year

    US inflation eased slightly in July on lower petrol prices

    US inflation eased slightly in July on lower petrol prices

    Biden tax proposals fall short of OECD standards for minimum rate

    Biden tax proposals fall short of OECD standards for minimum rate

  • Entertainment

    In A Video Uploaded To Instagram, The Blink-182 Drummer Travis Barker Seemed To Be Doing Wake Surf Naturally

    Rande Gerber Received An At-Home Haircut From Kaia Gerber

    Eve Barlow, A Friend Of The Actress, Joined Amber Heard And Her Daughter Oonagh Paige On Their Trip To Israel

    After Posting A Photo Of Herself Sobbing In bedroom, Nicola Peltz Praises Her Followers For Their Encouragement

  • Health
    Roundup: New algorithm detects source of epileptic seizure and more briefs

    Roundup: New algorithm detects source of epileptic seizure and more briefs

    Indonesian digital derma startup Diri Care scores $4.3M in seed funding

    Indonesian digital derma startup Diri Care scores $4.3M in seed funding

    ResMed acquires insomnia digital health solution somnio

    ResMed acquires insomnia digital health solution somnio

    Survey: Nearly half report virtual care visit in the past year

    Survey: Nearly half report virtual care visit in the past year

  • Life Style
    What does the latest nail polish powder look like?

    What does the latest nail polish powder look like?

    IGI Diamonds

    The Truth About GIA and IGI Diamonds – What’s the Difference?

    The benefits of a terrarium that is made from glass

    The benefits of a terrarium that is made from glass

    Kimone Peart Fast-Rising Fashion Model And Influencer

    Kimone Peart Fast-Rising Fashion Model And Influencer

  • Politics
    Trump Basically Admits He Had Nuclear Docs At Mar-a-Lago

    Trump Basically Admits He Had Nuclear Docs At Mar-a-Lago

    Mick Mulvaney Says The FBI Informant Is Someone Very Close To Trump

    Mick Mulvaney Says The FBI Informant Is Someone Very Close To Trump

    Trump-backed challengers to Republican lawmakers lag in fundraising

    Trump Takes Fifth Amendment Throughout Deposition With New York Attorney General

    Rick Scott Compares Trump Raid To Nazis As GOP Finds New Way To Lose Votes

    Rick Scott Compares Trump Raid To Nazis As GOP Finds New Way To Lose Votes

  • Sports
    ‘One of the most dangerous plays I’ve ever seen’

    ‘One of the most dangerous plays I’ve ever seen’

    Lakers legend Magic Johnson ‘speechless’ after uninspiring loss to shorthanded Trail Blazers

    Lakers legend Magic Johnson ‘speechless’ after uninspiring loss to shorthanded Trail Blazers

    Odell Beckham Jr. reveals how close he was to signing with the Patriots after Bill Belichick recruitment

    Odell Beckham Jr. reveals how close he was to signing with the Patriots after Bill Belichick recruitment

    WTA still have ‘concerns’ for Peng Shuai, call for sexual assault investigation

    WTA still have ‘concerns’ for Peng Shuai, call for sexual assault investigation

  • Technology
    Predicting the climate bill’s effects is harder than you might think

    Predicting the climate bill’s effects is harder than you might think

    The Download: tech’s gender gap, and how Gen Z handles misinformation

    The Download: tech’s gender gap, and how Gen Z handles misinformation

    Psychedelics are having a moment and women could be the ones to benefit

    Psychedelics are having a moment and women could be the ones to benefit

    Fixing social media, and US monkeypox vaccines

    Fixing social media, and US monkeypox vaccines

  • World
    Bungling ‘robber’ has to be rescued after he was buried underground in a collapsed tunnel

    Bungling ‘robber’ has to be rescued after he was buried underground in a collapsed tunnel

    Skiathos landing: Video shows Wizz Air plane skimming yards over tourists’ heads

    Skiathos landing: Video shows Wizz Air plane skimming yards over tourists’ heads

    Domino’s pizza driven out of Italy: Chain shuts its last store in failure to convert country

    Domino’s pizza driven out of Italy: Chain shuts its last store in failure to convert country

    Mushroom cloud seen rising at Russian military airbase in Crimea 130 miles from Ukrainian frontline

    Mushroom cloud seen rising at Russian military airbase in Crimea 130 miles from Ukrainian frontline

Contact Us
  • Home
  • Business
    What’s next for bitcoin as the cryptocurrency wrestles with $24,000

    What’s next for bitcoin as the cryptocurrency wrestles with $24,000

    GM reveals new GMC Canyon premium midsize pickup, starting at $40,000

    GM reveals new GMC Canyon premium midsize pickup, starting at $40,000

    WWE discloses $5 million in McMahon payments, delays earnings report

    WWE discloses $5 million in McMahon payments, delays earnings report

    Ford increasing price of electric F-150 Lightning

    Ford increasing price of electric F-150 Lightning

  • Economy
    Parents cut back on children’s pocket money as UK inflation bites

    Parents cut back on children’s pocket money as UK inflation bites

    British energy bills forecast to soar above £5,000 next year

    British energy bills forecast to soar above £5,000 next year

    US inflation eased slightly in July on lower petrol prices

    US inflation eased slightly in July on lower petrol prices

    Biden tax proposals fall short of OECD standards for minimum rate

    Biden tax proposals fall short of OECD standards for minimum rate

  • Entertainment

    In A Video Uploaded To Instagram, The Blink-182 Drummer Travis Barker Seemed To Be Doing Wake Surf Naturally

    Rande Gerber Received An At-Home Haircut From Kaia Gerber

    Eve Barlow, A Friend Of The Actress, Joined Amber Heard And Her Daughter Oonagh Paige On Their Trip To Israel

    After Posting A Photo Of Herself Sobbing In bedroom, Nicola Peltz Praises Her Followers For Their Encouragement

  • Health
    Roundup: New algorithm detects source of epileptic seizure and more briefs

    Roundup: New algorithm detects source of epileptic seizure and more briefs

    Indonesian digital derma startup Diri Care scores $4.3M in seed funding

    Indonesian digital derma startup Diri Care scores $4.3M in seed funding

    ResMed acquires insomnia digital health solution somnio

    ResMed acquires insomnia digital health solution somnio

    Survey: Nearly half report virtual care visit in the past year

    Survey: Nearly half report virtual care visit in the past year

  • Life Style
    What does the latest nail polish powder look like?

    What does the latest nail polish powder look like?

    IGI Diamonds

    The Truth About GIA and IGI Diamonds – What’s the Difference?

    The benefits of a terrarium that is made from glass

    The benefits of a terrarium that is made from glass

    Kimone Peart Fast-Rising Fashion Model And Influencer

    Kimone Peart Fast-Rising Fashion Model And Influencer

  • Politics
    Trump Basically Admits He Had Nuclear Docs At Mar-a-Lago

    Trump Basically Admits He Had Nuclear Docs At Mar-a-Lago

    Mick Mulvaney Says The FBI Informant Is Someone Very Close To Trump

    Mick Mulvaney Says The FBI Informant Is Someone Very Close To Trump

    Trump-backed challengers to Republican lawmakers lag in fundraising

    Trump Takes Fifth Amendment Throughout Deposition With New York Attorney General

    Rick Scott Compares Trump Raid To Nazis As GOP Finds New Way To Lose Votes

    Rick Scott Compares Trump Raid To Nazis As GOP Finds New Way To Lose Votes

  • Sports
    ‘One of the most dangerous plays I’ve ever seen’

    ‘One of the most dangerous plays I’ve ever seen’

    Lakers legend Magic Johnson ‘speechless’ after uninspiring loss to shorthanded Trail Blazers

    Lakers legend Magic Johnson ‘speechless’ after uninspiring loss to shorthanded Trail Blazers

    Odell Beckham Jr. reveals how close he was to signing with the Patriots after Bill Belichick recruitment

    Odell Beckham Jr. reveals how close he was to signing with the Patriots after Bill Belichick recruitment

    WTA still have ‘concerns’ for Peng Shuai, call for sexual assault investigation

    WTA still have ‘concerns’ for Peng Shuai, call for sexual assault investigation

  • Technology
    Predicting the climate bill’s effects is harder than you might think

    Predicting the climate bill’s effects is harder than you might think

    The Download: tech’s gender gap, and how Gen Z handles misinformation

    The Download: tech’s gender gap, and how Gen Z handles misinformation

    Psychedelics are having a moment and women could be the ones to benefit

    Psychedelics are having a moment and women could be the ones to benefit

    Fixing social media, and US monkeypox vaccines

    Fixing social media, and US monkeypox vaccines

  • World
    Bungling ‘robber’ has to be rescued after he was buried underground in a collapsed tunnel

    Bungling ‘robber’ has to be rescued after he was buried underground in a collapsed tunnel

    Skiathos landing: Video shows Wizz Air plane skimming yards over tourists’ heads

    Skiathos landing: Video shows Wizz Air plane skimming yards over tourists’ heads

    Domino’s pizza driven out of Italy: Chain shuts its last store in failure to convert country

    Domino’s pizza driven out of Italy: Chain shuts its last store in failure to convert country

    Mushroom cloud seen rising at Russian military airbase in Crimea 130 miles from Ukrainian frontline

    Mushroom cloud seen rising at Russian military airbase in Crimea 130 miles from Ukrainian frontline

No Result
View All Result
Newsnero
No Result
View All Result
Home Economy

Packaging boss launches attack on UK energy policy

admin by admin
December 9, 2021
Reading Time: 3 mins read
0
Packaging boss launches attack on UK energy policy


RELATED POSTS

Parents cut back on children’s pocket money as UK inflation bites

British energy bills forecast to soar above £5,000 next year

US inflation eased slightly in July on lower petrol prices

The head of Britain’s largest packaging company has launched a sharp attack on British government policy, which has resulted in significantly higher energy costs than in the rest of Europe.

Miles Roberts, CEO of DS Smith, said that at a time of tremendous growth in online shopping, the UK paper industry has shrunk significantly over the past decade, while the German sector has doubled because of the cost of electricity on the island nation compared to the US were much higher than the EU.

“The fundamental problem is that energy costs for heavy industry users are almost twice the European average,” he told the Financial Times. “That is quite a disadvantage compared to other countries. The government has imposed more and more taxes on companies. “

DS Smith announced major investments this year to build new production facilities in Italy and Poland and to expand in Germany.

According to Andrew Large, director general of the Confederation of Paper Industries, a trade group, the German paper industry has grown from three to seven times the size of the UK due to Berlin’s policy of helping the industry with the additional costs associated with decarbonization.

Roberts is the latest industrialist to call on the UK government to take action to cut costs for manufacturers after a global surge in gas prices hit the country particularly hard due to a lack of gas storage facilities and reliance on weather-dependent wind power.

Monthly average wholesale electricity costs in the UK reached £ 200 per MWh in September, almost double the French and German average of £ 110 per MWh, according to the Energy Intensive Users Group.

The lobby group calls for a reduction in network costs, a cost-containment mechanism for the rise in gas prices and measures to reduce some CO2 costs. The government has offered loans to help us weather the crisis.

Roberts highlighted the UK emissions trading scheme launched in May as problematic, which sets a price on carbon emissions that has risen to nearly £ 75 per tonne, a premium for Europe.

Paper is a £ 12 billion industry in the UK and employs 62,000 people. Roberts said if government policies did not get more supportive, it threatens further decline and the UK would become more reliant on imports for a product with immense domestic demand growth.

“We are committed to becoming CO2 neutral. Various governments in Germany, France and Spain have been very supportive of this, ”he said, adding that he would like to continue investing in the UK.

“We just have to understand what British government policy will be like.”

The Ministry of Economic, Energy and Industrial Strategy did not immediately respond to a request for comment.

Not everyone in the packaging industry agrees with Roberts. Tony Smurfit, CEO of Smurfit Kappa, Europe’s largest paper-based packaging company, told the FT last month that industrial companies should wage their own battle against higher energy costs.

“The government must intervene to protect poor people from massive energy costs. The industry should take care of itself, ”he said.

DS Smith, which ships 28 percent of its boxes to the UK, is benefiting from the pandemic surge in e-commerce.

It keeps rising fiber optic, energy and logistics costs in check through price increases, hedging agreements and its own fleet of vehicles.

The FTSE 100 group increased its dividend Thursday after seeing an 80 percent increase in pre-tax profit to $ 175 million in the six months to the end of October.

The group’s shares were unchanged in late morning trading on Thursday.



Source link

ShareTweetShare
admin

admin

Related Posts

Parents cut back on children’s pocket money as UK inflation bites
Economy

Parents cut back on children’s pocket money as UK inflation bites

August 12, 2022
British energy bills forecast to soar above £5,000 next year
Economy

British energy bills forecast to soar above £5,000 next year

August 11, 2022
US inflation eased slightly in July on lower petrol prices
Economy

US inflation eased slightly in July on lower petrol prices

August 10, 2022
Biden tax proposals fall short of OECD standards for minimum rate
Economy

Biden tax proposals fall short of OECD standards for minimum rate

August 9, 2022
Demography is not destiny | Financial Times
Economy

Demography is not destiny | Financial Times

August 8, 2022
Did the UK economy contract in the second quarter?
Economy

Did the UK economy contract in the second quarter?

August 7, 2022
Next Post
Uber-owned Careem gets in on the surging ‘dark store’ market with UAE launch

Uber-owned Careem gets in on the surging 'dark store' market with UAE launch

Black Satta King

Black Satta King Take a look at these easy methods for earning money.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest

Trump Basically Admits He Had Nuclear Docs At Mar-a-Lago

Trump Basically Admits He Had Nuclear Docs At Mar-a-Lago

August 12, 2022
What’s next for bitcoin as the cryptocurrency wrestles with $24,000

What’s next for bitcoin as the cryptocurrency wrestles with $24,000

August 12, 2022
Parents cut back on children’s pocket money as UK inflation bites

Parents cut back on children’s pocket money as UK inflation bites

August 12, 2022

Categories

  • Business
  • Economy
  • Entertainment
  • Health
  • Life Style
  • Politics
  • Sports
  • Technology
  • Uncategorized
  • World
Newsnero

Here you get al the latest new about Business, Sport, Entertainmnet, Polotics Etc.

Categories

  • Business
  • Economy
  • Entertainment
  • Health
  • Life Style
  • Politics
  • Sports
  • Technology
  • Uncategorized
  • World

Recent News

  • Trump Basically Admits He Had Nuclear Docs At Mar-a-Lago
  • What’s next for bitcoin as the cryptocurrency wrestles with $24,000
  • Parents cut back on children’s pocket money as UK inflation bites
  • Privacy Policy
  • Terms & Conditions
  • Contact Us

© 2021 Newsnero.All Right Reserved.

No Result
View All Result
  • Home
  • Business
  • Economy
  • Entertainment
  • Health
  • Life Style
  • Politics
  • Sports
  • Technology
  • World

© 2021 Newsnero.All Right Reserved.