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Retail

Trade Association Welcomes UK Government's Six-Month Support Package

The British Independent Retailers Association (Bira) has welcomed the UK government’s decision to intervene in the energy crisis.

Prime Minister Liz Truss has announced a support package for six months, which will provide businesses 'equivalent support' for gas and electricity bills which were due to rise in October.

'We Still Have Concerns'

Bira CEO Andrew Goodacre welcomed the government intervention and added, “Retailers on every high street will welcome any support, but we still have concerns. Making the energy rate for businesses the same as consumers still imposes a 300% increase on energy bills for many businesses, and that will still cause hardship for those business owners.

“We also believe that any review over the next six months should have a broader remit of looking at all business costs. There is limited prospect of prices reducing in six months' time, and so we cannot afford to see business rates increase in line with inflation just as this business support comes to an end."

Around 65% of business owners in the UK, who are part of Bira, said in a survey that a price rise would force them to reduce the number of staff, or reduce wages.

Elsewhere, 40% said were considering limiting opening hours, while 23% were looking to permanently or temporarily close their business once the proposed price hike came into effect in October.

Read More: European Retailers Turn Off Lights, Cut Opening Hours To Save Energy

© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.

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