Firms call for government support amid soaring energy bills

Business groups warn that “without action, the UK economy will face even tougher time”

A coalition of business groups has called on the government to take urgent action to protect firms against skyrocketing energy costs.

The groups, including the British Chambers of Commerce, the Confederation of British Industry, the Make UK, the Federation of Small Businesses and the Institute of Directors have written to Chancellor Rishi Sunak to ask for support.

They warned that businesses will face further costs as existing fixed tariff contracts end.

The groups said: “Small and medium-sized businesses are the most at risk. Many companies will be left with little other choice than to pass costs on to their customers, adding further inflationary pressure.”

They also said that the UK economy would have a “tougher time” if urgent measures were not taken.

A government spokesperson told ELN: “We understand the pressures people are facing with the cost of living and are providing support worth around £12 billion over two years to help families.

“Support is being targeted towards the lowest paid, and we are specifically helping households with their energy bills.

“In addition, the Energy Price Cap is currently insulating millions of consumers from high global gas prices and we’ll continue to listen to consumers and businesses on how to manage the costs of energy.”

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