Industry echoes OECD energy policy worries

Suzie Neuwirth
INDUSTRY bodies echoed warnings from the head of the Organisation for Economic Co-operation and Development (OECD) yesterday, that Labour’s plans to freeze energy bills could seriously hinder investment into the sector.

Angel Gurria, secretary-general at the OECD, told BBC Panorama last night that forcing firms to absorb higher costs could bankrupt their investors.

Simon Walker, director general of the Institute of Directors, said the proposal could have “potentially damaging consequences” while the CBI’s director for business environment Rhian Kelly agreed it has “caused uncertainty among the business community”.