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READ MOREHunt confirms cut to ‘unsustainably expensive’ business energy support
Jeremy Hunt has confirmed that he will announce plans to reduce energy support for businesses in the Commons next week, telling industry leaders it was “unsustainably expensive”.
The chancellor has told business groups that a package providing support at a “lower level” than current measures would be available to them beyond March, promising to avoid a “cliff edge” in curtailing the subsidy.
The government introduced support for “non-domestic” energy customers bills in October, alongside financial help for household gas and electricity bills. The scheme, which cuts the bills for organisations including businesses, hospitals, schools and charities, was due to end in March.
Hunt met business groups on Wednesday to hear their concerns about the cost of energy, which remains high owing to an increase in the cost of wholesale gas over the past 18 months. Business groups including the CBI, the Federation of Small Businesses (FSB0, UK Hospitality, the Institute of Directors and the British Chambers of Commerce (BCC) attended the meeting.
Read more at The Guardian
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