Factories will close, many for good, and thousands of jobs will be lost if energy intensive industries are not offered urgent support, a government source has told ITV News.

The price of energy has rocketed by more than 250% this year and while household customers are protected by a cap on their bills, businesses are not - meaning energy intensive industries are being hit hard.

The government source said: “Without urgent support to help British industry manage high global gas prices factories will close, many for good, and thousands of jobs will be lost.”

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