UK Economy Hit by £4.4 Billion in Heatwave Losses

A recent report from think tank Verdant found that back-to-back summer heatwaves have wiped £4.4bn from the UK economy so far this year.

The losses come from reduced productivity and infrastructure equipment failures in the heat, with temperatures in June taking the biggest toll at £2.36bn.

This marks the second consecutive year a drought has been declared, and the third in five years. The estimated losses have been highest for businesses in several London boroughs, including the City of London (£435m) and Westminster (£371m).

The report warns that if temperatures continue to intensify at the same rate seen over the past decade, the UK could lose a total of £25.6bn from summer heatwaves by 2030.