Markets
EUR/USD1.1610 0.10%GBP/USD1.3425 0.04%USD/JPY159.04 0.06%USD/CHF0.7875 0.12%AUD/USD0.7142 0.21%USD/CAD1.3774 0.03%USD/CNY6.8110 0.13%USD/INR96.24 0.04%USD/BRL5.0052 0.14%USD/ZAR16.47 0.48%USD/TRY45.67 0.13%Gold$4,514.30BTC$76,270 1.40%ETH$2,093 1.55%SOL$85.01 2.65%
Europe

UK government pledges £120m to support ceramics firms

The UK government has announced a £120 million package to support ceramics firms battling high energy costs and falling orders. The fund targets the Stoke-on-Trent hub at the heart of the industry.

Stoke-on-Trent pottery factory with chimneys
Photo: Jan Wright / Pexels
BBC Business19 h ago

The UK government has unveiled a £120 million support package for the country's historic ceramics industry. The plan covers energy subsidies, vocational training and export advisory services. Centred on Stoke-on-Trent, the industry has been under pressure from energy prices spiking after the Iran war and the sharpest fall in factory orders since 2020, reported this week by the CBI.

Ministers highlighted the cultural and economic importance of preserving production at iconic brands such as Wedgwood, Royal Doulton and Burleigh. The sector has shed roughly 2,500 jobs in the past year, with some factories close to closure. The GMB trade union welcomed the package as 'too late but a positive step'.

A major component of the plan is a fiscal framework offering discounted electricity tariffs and exemption from the carbon levy for the sector. The framework will remain in place until March 2027. The CBI report noted that energy-intensive industries account for around 4% of UK manufacturing's contribution to GDP, and additional sectors may seek similar support in the coming months.

EnergyRegulationTradeEuropeBBC Business
This article is an AI-curated summary of the original story published by BBC Business. The illustration is a stock photo by Jan Wright from Pexels and is not from the original story.

More from Europe