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High Energy Costs Deter U.S. Investment in Britain

2/3/2026

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Summary

Story summary

U.S. business executives and embassy officials say Britain is losing American investment due to high energy costs.
At a conference, they cited expensive power, high taxes, and labor costs as undermining competitiveness.
Varun Chandra, adviser to Sir Keir Starmer, acknowledged Labour's shortcomings and urged patience.
Executives from 3M and Amazon said the UK’s investment appeal is diminishing, mirroring concerns raised by U.S. President Donald Trump about Labour's energy policies.

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Story summary

U.S. business executives and embassy officials say Britain is losing American investment due to high energy costs.
At a conference, they cited expensive power, high taxes, and labor costs as undermining competitiveness.
Varun Chandra, adviser to Sir Keir Starmer, acknowledged Labour's shortcomings and urged patience.
Executives from 3M and Amazon said the UK’s investment appeal is diminishing, mirroring concerns raised by U.S. President Donald Trump about Labour's energy policies.