Liberal Democrats in Business

News and views from the Lib Dem Treasury, Trade and Industry Teams and the Liberal Democrat Business Forum

Rising Energy Bills Eat Into Profit Margins

2.21.00pm UTC (GMT +0000) Tue 26th Oct 2004

Oil prices are impacting on the confidence of manufacturers according to the CBI. Commenting on today's report, Malcolm Bruce MP, Liberal Democrat Shadow DTI Secretary, said: "Part of the reason for rising oil prices is the instability in the Middle East.

"Meeting the cost of rising energy bills will obviously eat into the profit margins of British manufacturers. The knock-on effect is a dampening of the British economy.

"This is a clear economic cost of the war in Iraq."

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