UK Firms Seek Urgent Help With Their Energy Bills

Five business groups have written to UK Chancellor Rishi Sunak urging support for businesses and consumers as energy costs soar, BBC News reported.

Photo Insert: The Confederation of British Industry was among the business groups which pointed out that businesses were likely to be faced with further costs as existing fixed tariff contracts come to an end.

The groups, representing small and large businesses, bosses, and manufacturers, said price rises on the horizon could push millions of people into fuel poverty.

They said businesses had also been hit by steep rises in bills, forcing many of them to live to suffer akin to Dickensian times. The Treasury said it was helping families with £12-billion support.

The five groups - the British Chambers of Commerce, the Confederation of British Industry, the Federation of Small Businesses, the Institute of Directors and Make UK - said businesses were likely to be faced with further costs as existing fixed tariff contracts come to an end.

"The scale of the crisis has left companies with little protection while they face dealing with soaring wage, shipping, and tax costs," the groups said.

"Small and medium-sized businesses are the most at risk. Many companies will be left with little other choice than to pass costs on to their customers, adding further inflationary pressure."

They said that the government should focus on "supporting firms across the economy as they strive to manage these costs and protect cash flows." Energy-intensive industries such as steel, ceramics, and glassmakers also needed support to be competitive internationally, the groups said.

Rising energy costs are putting pressure on families. Inflation is running at its fastest rate for 30 years, pushed up by surging food costs and the energy bill crisis.

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