None
DE
UK heatwaves cost economy £4.4bn in lost output, analysis finds
['Amy Ingham', 'Amy Ingham Is A Reporter At Business Matters', 'Covering Uk Business News With A Focus On Breaking News', 'Business Policy', 'Late Payments', "Insolvency. She Joined The Magazine In After Completing The Nctj Diploma In Journalism At Harlow College'S Journalism School. Her Recent Reporting Includes British Steel'S Nationalisation", 'Its Impact On Sme Suppliers', 'The Decline In Late Payments Large Firms', 'Insolvency Service Director Disqualifications. Reach Her At Aingham Cbmeg.Co.Uk.']
Business Matters
Repeated heatwaves are likely to have cost the UK economy more than £4bn in lost output by the end of July, according to new analysis by the thinktank Verdant, which warns the annual cost could exceed £25bn by 2030.
Updating its assessment to include last month’s high temperatures, it now puts the hit to output at £4.4bn.
The forecaster has said the UK is on course to record its hottest summer ever, with repeated heatwaves already weighing on trade and output this summer.
Almost three-quarters of England has been declared officially in drought after the repeated heatwaves, which have also affected much of Europe.
The London mayor, Sadiq Khan, recently pointed to this year’s extreme temperatures as evidence that Labour should stick to its climate targets.