India, June 23 -- More than 7,000 British businesses are set to see their electricity bills slashed by up to 25% from 2027, as the Government unveils its bold new Industrial Strategy today [Monday 23 June].

The modern Industrial Strategy sets out a ten-year plan to boost investment, create good skilled jobs and make Britain the best place to do business by tackling two of the biggest barriers facing UK industry - high electricity prices and long waits for grid connections.

British manufacturers currently pay some of the highest electricity prices in the developed world while businesses looking to expand or modernise have faced delays when it comes to connecting to the grid.

For too long these challenges have held back growth and made i...