All these businesses already face strong headwinds from skyrocketing energy costs in the UK, assisted by Labour’s commitment to Net Zero.
If the UK agreed to dynamically link with the EU’s rates, the Prime Minister could impose a 14 per cent inflationary tax on carbon permits British factories are legally required to purchase.
Data from the ONS shows the metal sector’s annual turnover brings £26.1billion to the UK, while chemical products bring £14.8billion.
Production of non-metallic minerals, such as cement, brick, and glass, brings £14.8billion to the economy, bringing the total to £75.1billion.
But these core industries could be at risk of falling “at the mercy” of Brussel negotiators, Facts4EU warned.
Lord Redwood told The People’s Channel: “The EU will exploit weakness and might have to deny us the power we need when electricity supply stumbles on the other side of the Channel.
“Meanwhile, in its rush to give in, the UK Government forgets to press demands for any benefit we might get out of these expensive talks.”