PM’s spokesperson says Treasury and BEIS officials looking at ways to help manufacturersSplits have emerged at the heart of Downing Street after No 10 lined up behind Kwasi Kwarteng in his extraordinary cabinet row with the chancellor, Rishi Sunak, over whether to bail out firms struggling with energy costs.Kwarteng, the business secretary, is in favour of more financial support for heavy industry and submitted a formal request to the Treasury for help on Monday, with government sources warning “household names” are at risk of going bust within days because of high gas prices. The steel, chemicals and ceramics sectors are among those struggling. Continue reading…

PM’s spokesperson says Treasury and BEIS officials looking at ways to help manufacturers

Splits have emerged at the heart of Downing Street after No 10 lined up behind Kwasi Kwarteng in his extraordinary cabinet row with the chancellor, Rishi Sunak, over whether to bail out firms struggling with energy costs.

Kwarteng, the business secretary, is in favour of more financial support for heavy industry and submitted a formal request to the Treasury for help on Monday, with government sources warning “household names” are at risk of going bust within days because of high gas prices. The steel, chemicals and ceramics sectors are among those struggling.

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