The industry has welcomed the news that government will expand its help for businesses with their energy bills, with subsidies set to cover contracts going back to December 2021.
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The government has announced a new energy relief scheme that will reduce energy bills for businesses by 50% of expected levels.
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The latest insolvency figures show just how hard the hospitality industry has been affected by the cost-of-living crisis and soaring energy bills, with pubs, bars and restaurants some of the worst hit among UK businesses.
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The six-month energy cap unveiled by the Prime Minister yesterday has been met with a smattering of optimism among businesses. Though predictably, the resounding consensus from many corners of the trade is that the measure does not nearly go far enough in limiting the impact of exorbitant energy costs.
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Businesses are facing a brutal decision this winter: charge customers to keep the lights on, or risk going bust under eye-watering energy bills.
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On Monday (5 September), Conservative Party members chose a new leader and, therefore, a new Prime Minister. Liz Truss secured 57% of the vote, defeating Rishi Sunak in the race to Number 10.
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A £15bn package aimed at helping households deal with inflation and the rising cost of energy bills comes just one day after the Sue Gray report was published – a move that has prompted critics to question the rationale and timing of the sudden windfall for British consumers. Also, they ask, where is the support for business?
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