04 Apr 2023
The British Chambers of Commerce (BCC) has urged the government to create an energy support contingency plan for UK firms struggling with significant changes to the business environment.
The business group said that firms are facing many changes in the business landscape, including rising corporation tax, an increase in the National Living Wage (NLW) and business rates revaluations. It stated that the government 'is yet to offer any meaningful support to offset the challenges currently facing so many UK businesses'.
Additionally, the BCC has called on the government to increase energy regulator Ofgem's powers to strengthen protection for businesses.
Alex Veitch, Director of Public Policy and Public Affairs at the BCC, said: 'Of the seven energy policies we advocated for the government to include in [the] Spring Budget, not one was acted upon.
'Flexibility to increase support for those who desperately need it – ignored. Easing the burden of claiming VAT on energy – ignored. Funding for improved business energy efficiency – ignored. And so the list goes on.
'Government also failed to heed our calls to increase regulation of the business energy sector. The energy crisis faced by firms and households are two sides of the same coin. Yet, non-domestic customers do not enjoy the same protection as households.'