Kwasi Kwarteng asks Treasury for support over soaring energy prices

The business secretary Kwasi Kwarteng has asked the Treasury to provide support for industries hit by a surge in energy prices.

Several industry leaders have warned in recent days that businesses would struggle to survive the hike in gas prices – up to 250% since January.

Kwasi Kwarteng made the formal request to the Treasury today following a row over comments he made during the Sunday broadcast rounds. Kwarteng’s claims that he was in discussions with Rishi Sunak about a potential support deal were highly disputed by a Treasury source.

The Sun’s political editor Harry Cole reports a source claiming that: “without urgent support to help British industry manage high global gas prices, factories will close – many for good – and thousands of jobs will be lost”.

Earlier, Labour’s shadow chancellor Rachel Reeves called on government ministers to ‘work together to fight for British jobs and industries, rather than fighting each other.’