A price cap is good but six months’ support is not long enough
While it is good the Government is introducing a cap on business energy bills, which we and other industry bodies have been calling for, it is disappointing that the measures announced today only last for six months initially.
We need to understand further how the review process will work for deciding which companies will be considered for further support after this. Travel businesses should be eligible; the next six months represent the low season for travel, and most travel companies are still recovering from the impact the of COVID restrictions, with many having loans due for repayment.
With a fiscal statement expected later this month and an Autumn Budget still to come, Government must look at the other ways it can support businesses with rising costs including extending business rates support and working with banks to provide respite with the repayment of business loans taken on during the COVID crisis. Our Members are heading into the cost of living crisis after the worst two years in the industry’s history, with small to medium sized businesses particularly vulnerable.
We’ll be continuing to lobby Government on the need to act to support travel businesses during the cost of living crisis.
Mark Tanzer, ABTA Chief Executive