Reeves gives more energy bill support to businesses as Iran war pushes up costs

Scheme cutting bills by up to 25% expanded to cover 10,000 firms, but they will not be paid until next year

Rachel Reeves has announced an expansion of support for the most energy-intensive UK businesses, as they face soaring bills as a result of the Middle East conflict.

The chancellor said the long-promised British Industrial Competitiveness Scheme (BICS) would be expanded to cover 10,000 companies, up from the 7,000 originally announced.