Chamber Reacts to Government Statement on Energy Support for Business
Commenting on the release of further details about the Government's energy support plan for business, Chris Fletcher, Policy & Campaigns Director at Greater Manchester Chamber of Commerce, said: “On the face of it the Government’s statement today giving further details on the previously announced support for business with their energy bills is to be welcomed. Many businesses wanted certainty and stabilised prices as a first step in addressing what for many remains a considerable challenge. Government today have delivered that but concerns still remain that whilst domestic users have that certainty for two years, businesses have just six months, though there is a review in three months time to assess the effectiveness of the plan. This does give government some wriggle room to adjust the scheme further if required with some expectation this will be needed.
“Whilst the immediate pressing crisis around energy costs has been tackled in part by today’s news all eyes now turn to what the Chancellor announces on Friday with his mini-fiscal statement that is expected to outline tax cuts and give some indication of what plans this government has for economic growth.
“On the back of today’s announcement Friday’s statement should help with getting some idea about future policy direction at a time when many businesses are facing challenges on a huge scale not just with energy prices but skills issues, recruitment problems, slowing demand, a range of supply chain challenges and increasing overheads. These are serious issues and demand a serious response, not just tinkering with tax rates designed to please a section of voters. We hope the Chancellor recognises this and delivers a bold, realistic and effective plan.”