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London Chamber of Commerce and IndustryLondon Chamber of Commerce and Industry
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The Government's business energy price cap needs longer-term thinking

Wednesday 21 September 2022​

Richard Burge, Chief Executive of London Chamber of Commerce and Industry (LCCI), said
: “We have repeatedly called on the Government to support businesses as they navigate some of the strongest economic headwinds in decades. We welcome this morning’s announcement that marks a clear step in the right direction towards saving businesses and jobs. London businesses have been on the verge of breaking point and today’s announcement will at least give the many businesses that were facing potential closure at least some respite during the winter months.

However, we are cautious of the Government’s approach to future support which threatens to draw businesses towards another cliff edge in March 2023. Businesses are in dire need of at least some degree of certainty during these exceptionally uncertain times. While we appreciate there are factors beyond the Government’s immediate control, there are further steps to take that would facilitate business investment by creating greater clarity over the medium term. Now, more than ever, we cannot afford to let business investment slip – it still has not recovered to pre-Brexit referendum levels. The Government must enact a long-term plan that invites business confidence, boosts productivity and delivers economic growth for the UK.”

ENDS

The Government's business energy price cap needs longer-term thinking

Short term help is not enough for businesses