The British Chambers of Commerce (BCC) has warned that companies will see an 85% lower in authorities assist when the Power Invoice Reduction Scheme (EBRS) ends on Saturday.
Enterprise leaders are warning that many corporations will wrestle to pay their vitality payments and the BCC are calling for focused assist to those that will “desperately” want the assist.
Alex Veitch, director of coverage and public affairs on the BCC stated, “We’ve been signalling for months that many companies will wrestle to afford their vitality payments when the monetary envelope of assist reduces by 85%, with many receiving a fraction of their authentic assist.
“Virtually half of companies say paying payments will probably be troublesome from tomorrow onwards, however of the seven vitality insurance policies we advocated for the Authorities to incorporate on this month’s spring Finances, not one was acted upon.
“Flexibility to extend assist for individuals who desperately want it – ignored. Easing the burden of claiming VAT on vitality – ignored. Funding for improved enterprise vitality effectivity – ignored. And so the record goes on.
“Authorities additionally didn’t heed our calls to extend regulation of the enterprise vitality sector.”