The Chancellor brought forward part of the promised compensation package to offset the additional costs of renewables on electricity costs, but unfortunately left unchanged the timetable to deliver the rest of the package.

Mr Workman welcomed this support but urged that Government deliver policies faster and guarantee support over the longer term.

“It’s reassuring that the Chancellor acknowledges that Energy Intensive Industries are fundamental to the UK economy and is setting policies to begin to address high policy costs that lead to uncompetitive energy costs in the UK.

“However, these policy costs have been put in place by successive government policies and it’s only now that the competitive damage caused is being addressed. For capital intensive industries, such as paper, investment cycles can easily be more than 25 years and investors need certainty that energy costs will be internationally competitive if investments are to be made in the UK.

“Energy Intensive Industries are often fundamental to manufacturing sectors, being critical parts of supply chains by providing jobs and wealth creation.

“The UK currently imports substantially more paper than it exports, meaning the sector could play an important role in rebalancing the economy.”