Skip to content

U.K. Considering Aid for Companies Hit By Gas Price

  • Business secretary submits proposals to finance ministry
  • Gas prices surge sixfold in a year, piling costs on business
Kwasi Kwarteng
Kwasi KwartengPhotographer: Hollie Adams/Bloomberg
Updated on

Business Secretary Kwasi Kwarteng sought support from the U.K. Treasury for industries struggling to cope with the rising cost of energy, people familiar with the matter said.

His department submitted a set of proposals to the finance ministry on Monday, the people said, asking not to be named discussing private policy discussions. They declined to provide detail on the proposals. The Times of London reported that Prime Minister Boris Johnson has sided with Kwarteng and is backing state loans worth millions, with an announcement expected as soon as this week.