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ICAEW comment on business energy plan

Author: ICAEW

Published: 21 Sep 2022

Commenting on the government’s plans to help cut energy bills for businesses, Iain Wright, ICAEW's Managing Director, Reputation and Influence, said:

“This is a generous support package and will offer significant short-term relief to firms facing an uncertain future, helping protect businesses, preserve jobs and avoiding unnecessary red tape. However, businesses will need to know soon what happens when this support ends, and what to expect if there are energy shortages.

“Our members are playing a key role in both running companies facing increases in costs of doing business, as well as helping firms up and down the country deal with the fallout from the energy crisis but continued uncertainly makes it extremely difficult to plan. We hope the government continues to respond flexibly to provide support where needed, otherwise firms will face a cliff edge in six months' time which can only mean price increases and real threats of company failures - feeding inflation, harming the economy and hurting consumers.

“We will continue to work closely with BEIS and other government departments to raise and address any issues.”