Pitt’s firm employs about 140 people and designs and manufactures fluid handling equipment for oil, gas, nuclear and renewable industries.<\/p>\n
Responding to the IMF’s forecast and speaking to BBC Today, he said: “We use about a quarter of a million pounds worth of electricity and gas every year, and we run about 20 company vehicles. <\/p>\n
“It means we have instant diesel impacts at the moment and our electricity contract runs out in the autumn, so who knows what those prices will be?”<\/p>\n
He added: “We have the most expensive energy in the world. We have some of the best natural resources but we refuse to use them and we want to buy from everywhere else. <\/p>\n
“It’s just unsustainable.”<\/p>\n
Chancellor Rachel Reeves said: “The war in Iran is not our war, but it will come at a cost to the UK. These are not costs I wanted, but they are costs we will have to respond to.” <\/p>\n
The US Treasury Secretary Scott Bessent also told the BBC a “small bit of economic pain for weeks” was worth it for the security of eliminating the risk of Iran deploying nuclear weapons.<\/p>\n","protected":false},"excerpt":{"rendered":"Pitt’s firm employs about 140 people and designs and manufactures fluid handling equipment for oil, gas, nuclear and…\n","protected":false},"author":2,"featured_media":532492,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":["post-532491","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/532491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=532491"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/532491\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/532492"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=532491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=532491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=532491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}