Energy bills for UK businesses will be cut says Business Secretary

“At the same time, we are boosting Britain’s homegrown energy supply so we fix the root cause of the issues we are facing and ensure greater energy security for us all.”

Read more detailed information from the government website:

Responding to the release of further details from Government on the energy support plan for business, Shevaun Haviland, Director General of the BCC, said:

For months we have been calling for Government intervention to help businesses with eye watering energy costs. This support package is significant and will ease the cost pressures that have been piling up on businesses.

“It will allow many firms that were facing closure, or having to lay off staff or reduce output, to keep going through the winter.

“But the exact level of support will vary greatly from business to business depending on the detail of its contract, so some will inevitably do better than others.

We now need action to get this saving passed onto business as soon as possible – every day will put some firms closer to the edge and they cannot hang on much longer.

There must also be effective legal oversight to ensure no firms that are due this money miss out.

For those that will benefit, six months support is not enough for most firms to make plans for the future.

We understand there are a range of unknowns for the Government in looking ahead, but without that reassurance very few firms will make plans to invest or grow. 

Some businesses will still struggle to meet their bills despite this government intervention, the Chancellor must prioritise those firms in his mini-budget on Friday.

There are a range of other challenges that must be addressed including labour shortages, supply chain disruption, and rising raw material costs.

“To truly revitalise our economy for the difficult months ahead then there must be a clear long-term plan that gives business the confidence to grow.

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Original source BBC news.

Dorchester Chamber for Business

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