Magazines
Newsletter
Advertise
Search
The Business Magazine - B2B Business News - Site Logo
The Business Magazine - B2B Business News - Site Logo
The Business Magazine July 2024
Read now
PICK YOUR EDITION

Firms need post-April energy plan now, says Coventry and Warwickshire Chamber of Commerce

The Business Magazine article image for: Firms need post-April energy plan now, says Coventry and Warwickshire Chamber of Commerce
24 October 2022

Coventry and Warwickshire Chamber of Commerce is calling on the Chancellor to reveal how firms that are hardest hit by crippling energy costs are going to be supported beyond next April.

In his latest statement, Jeremy Hunt stated that a treasury-led review is being launched into what support can be offered with energy bills from April onwards when the current Energy Bill Relief Scheme is set to end.

It was also confirmed that plans to reverse the scheduled 1.25 per cent rise in National Insurance for the next tax year have been retained, while corporation tax will continue to rise to 25 per cent for larger businesses.

Further fiscal plans are set to be announced by the Chancellor on Monday 31 October.

Corin Crane, Chief Executive of the Coventry and Warwickshire Chamber of Commerce, said: “While we appreciate that the government has had to act to reassure the markets, once again businesses are being left in limbo and unable to plan for their medium-to-long-term futures.

“Energy bills are one of the biggest worries for many of the region’s businesses, and while we welcome that the government’s recognition that further help is needed beyond April, a lack of detail around any review or when it is likely to conclude with its recommendations, does nothing to ease our concerns.

“Now more than ever, the government should be consulting with businesses from a variety of sectors as part of this treasury-led review so they can truly understand the reality business owners they face on a day-to-day basis, and provide a tailored support package that will help businesses to plan further ahead.

“It is that message our Chamber of Commerce will be taking to our Manufacturing, Automotive, Engineering and Construction parliament roundtable on Tuesday 25th October.”


Share 

Peter Davison is deputy editor of The Business Magazine. He has spent his life in journalism – doing work experience in newsrooms in and around Bristol while still at school, and landing his first job on a local newspaper aged 19. By 28 he was the youngest newspaper editor in the country.

An early advocate of online news, he spent the first years of the 2000s telling his bosses that the internet posed both the biggest opportunity and greatest threat to the newspaper industry and the art of journalism. He was right on both counts.

Since 2006 he has enjoyed a career as a freelance journalist. He lives in rural Wiltshire with one wife, two children, and three cats.

Latest deal ticket

All deals

Events

All events

Related news


Group Titles

Dorset BIZ NewsHampshire BIZ News
crossmenu