Business leaders calls for clarity over energy support

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- Last updated on GMT

Business leaders calls for clarity over energy support

Related tags Energy costs Government Legislation Liz Truss ukhospitality

Business leaders have urged the Government to set out further detail over the extent of support firms will receive to pay soaring energy bills.

Prime Minister Liz Truss announced last week​ that businesses are to get a six-month support package to reduce their energy bills, but further information on the delivery of the support package is yet to be published. 

Energy industry insiders have warned details were needed within days for businesses to benefit from support this winter, but Chancellor Kwasi Kwarteng is not expected to outline the plans until the Government's 'fiscal event', which is expected to take place on Thursday 22 September.

Kate Nicholls, chief executive of trade body UKHospitality, has said businesses need clarity as soon as possible.

“Emergency Budget suggested to be held next week to provide details of energy support package,” she wrote on Twitter.

“Hospitality businesses are battling for survival in face of soaring bills, inflationary headwinds and cost of living squeeze need VAT cuts and business rate relief as well as energy cap.”

In her address to the Commons, Truss described the hospitality and pub sectors as 'vulnerable' and said that the Government was working with businesses to offer more support beyond the initial six month period. 

“After those six months we will provide further support to vulnerable sectors such as hospitality, including our local pubs,” she said.

Dr Roger Barker, director of policy at the Institute of Directors, said businesses now need absolute clarity as fast as possible as to who will and won’t be helped, depending on the nature of their contracts.

“This is essential for businesses trying to plan their cashflow requirements in the next few months.”

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