Governments are running out of time to help urgently needed businesses

August 25, 2022

• BCC suggest 5-point plan for offer business Immediate support
• Measures include: C.oval–style support With the introduction of government emergency energy subsidies for small and medium-sized enterprises
• government urged give 〇fgems more power To Strengthen energy market regulation business
• BCC is also calling government To Temporarily withdraw National Insurance contribution Addressing the Skills Shortage

T.British Chamber of Commerce (BCC) Prime Minister wrote a letter to the Prime Minister of checkr Conservative Party Leadership Candidates suggestion Comprehensive 5-point plan To offer important support To England workS.

BCC’s five-point plan to support your business includes the following measures:

1. Ofgem given more powers to better regulate energy market for businesses

1. Temporarily lower VAT to 5% to reduce energy costs for businesses

1. Covid-Style Support With Introduction Of Government Emergency Energy Subsidies For Small Businesses

1. Temporarily reverse NICs and put money back in the pockets of businesses and employees

1. The government will immediately review and reform the Short List of Jobs (SOL) to reduce wage pressures and fill vacancies

The cost of living crisis and the cost of business activities are two sides of the same coin.The bank of englandprediction of of a recession and cuponSumeconfidence report To GfKMore at 50–year minimum that is clear signs that government teeth RunNing no time to deliver business and household the support they need.

these are projection It should come as no surprise to BCCs and BUs.Sines community. 〇version last 18 monthsBCC Research Indicated unprecedented inflationary pressures in business, two-thirds enterprise of Planned for Q2 2022g further price increase. energy invoice, Raw material and lAber cost All cited as the biggest drivers of price increases.

anxiously, BCC The survey shows that the percentage of companies expecting growth over the next 12 months has dropped from 63% in Q1 to 54% in Q2.. In January, BCC found that: twenty threePercentage of business investigated wConsidering downsizing or closing to meet rising costs.

debtIlms canNo afford to wait another month no practical support measurements to be placed. Now is the time to act.

coping with Challenges faced by businesses and householdsBCC Executive Director Shevaun Haviland said:

“Today I wrote a letter to the Prime Minister, the Prime Minister of Exchequer and both Conservative Party Leader Candidate express my business concerns home during these difficult times.

“ever since At the beginning of 2021, we heard the same message over and over again: costs.–of-Is doing-Business is growing.

“CPI inflation above 10% is the highest in 40 years. Interest rates have seen their biggest rise in 27 years. And utility bills watering the eyes Have created The Perfect Storm of Increasing Costs. of influence of tThese challenges About consumers business And the wider society cannot exaggerate.

“Consumer Confidence reported at 50–year minimum, and bank of England forecast a year of recession, teeth, Cost of Living Crisis and Cost of Business Activity Crisis that is Two sides of the same coin.

“BCC’s five-point plan Secure support for your business. It is also about protecting jobs, securing livelihoods and creating vibrant and prosperous societies for all.

“Good business is good for our community and we must support the businesses and the individuals who run them. To Let’s weather this economic storm.

“In June, we even gave the government a fall budget to put the house in order, but the latest economic forecast released since then is becoming Worse than expected. we simply can’t afford to See another month for the same old news.

“finished feedback from Certified Chambers of Commerce across the UK, Extensive research and investigative work, plus we know what business I need to survive now When growth plan. of The regulation of the energy sector for businesses should be strengthened.companies too receive support for spiral cost finished Subsidy When a VAT reduction About utility billsparallel When growth promotion measures such as andTemporary Withdrawal of NIC and urgent reform of SOL to fill staff vacancies.

“I can see the problem. W.e with BCC that is We provide solutions.now to the government Take action to protect your business, life and work”