CBI: Price freeze 'will deter much-needed investment'

John Cridland, director-general of the pro-business lobby group CBI, said:

Businesses will view the proposals on tax and energy as a setback for Labour's pro-enterprise credentials.

Rising energy bills are tough on families and businesses, but the proposed energy price freeze will deter much-needed investment and is at odds with Labour's pledge to decarbonise the economy and create a million green jobs.

The main reasons that bills are going up is the combination of rising wholesale prices, the cost of policies needed to keep the lights on and the move to a low-carbon economy.

– John Cridland, CBI