Sir Jim Ratcliffe’s industrial company, Ineos, has announced that it will pause production at three of its manufacturing sites in Hull due to soaring UK gas prices. This decision is expected to impact up to 4,000 jobs, with 1,000 directly at the plants and another 3,000 in the supply chain. The company said UK gas prices are now 12 times higher than in the United States and eight times more expensive than the coal-based methods used by Chinese competitors. Ratcliffe stated that the high costs are making it impossible for Ineos to remain competitive, forcing the firm to "mothball" some of its most efficient plants in Europe. The sites in question produce raw materials essential for a wide range of products, including pharmaceuticals, clothing, cosmetics, detergents, construction materials, and military explosives. Gas is a key component in their production processes. Ineos is attempting to secure liquefied natural gas (LNG) directly from the United States at lower prices, but this process could take up to a year. In the meantime, workers will remain employed while the company waits for gas prices to drop or for alternative solutions to be found. Ineos is also urging the UK and EU governments to implement tariff protections against Chinese imports, as it claims its products face unfair competition from lower-cost producers. The company highlighted that its plants in Humberside are among the most efficient globally, with a significantly lower carbon footprint compared to similar operations in the U.S. and China. However, two of these plants are already closed, and a third will halt production in the coming days. The company has not specified when or under what conditions production might resume. Sir Jim Ratcliffe has been vocal in his criticism of UK government policy, calling it "economic vandalism on an industrial scale." He has previously expressed concerns about the UK’s economic direction, citing high taxes and immigration as factors contributing to his loss of confidence in the country. Ratcliffe, who also owns a significant stake in Manchester United, has been a supporter of Brexit and has been a tax resident in Monaco since 2020. The Department for Business, Innovation, Science and Trade has been contacted for comment on these developments.