Businesses need more than a 6-month Energy Price Cap

Thursday 8 September 2022

Richard Burge, Chief Executive of The London Chamber of Commerce and Industry (LCCI) said:

“We welcome the Prime Minister’s announcement of urgent but long-overdue support to address the current energy crisis facing households and businesses.

However, while businesses will be relieved to have an energy price cap that is the same as households, we are concerned that they are now facing a cliff-edge situation. Six months is not long enough for businesses to forecast accurately or to give them any sense of stability, and many businesses will be asking the question, ‘what next?’.

Businesses are facing an unprecedented economic storm and the Government must embark on a total reset of its relationship with business in order to ensure their survival. We urge the new Prime Minister to focus on long-term solutions and prioritise a pro-business agenda that will return the economy to growth.”

ENDS