The Chamber has come out strongly in support of the British Chambers of Commerce’ (BCC) position on the energy crisis and the broader economic problems the country faces, but suggests it could go even further.
The BCC has written to the Prime Minister, Chancellor of the Exchequer and both leadership candidates for the Conservative party proposing a comprehensive five-point plan to provide vital support to UK businesses. This includes the following measures:
- Ofgem to be given more power to strengthen regulation of the energy market for businesses
- Temporary cut in VAT to 5% to reduce energy costs for businesses
- Covid-style support by introducing Government Emergency Energy Grant for SMEs
- Temporarily reverse NICs and put money back into the pockets of businesses and workers
- Government to immediately review and reform the Shortage Occupation List (SOL) to help bring down wage pressures and fill staffing vacancies
Cheltenham Chamber of Commerce CEO, Michael Ratcliffe commented
“The Cheltenham Chamber of Commerce fully endorses the comments made in an open letter to Government from the British Chambers of Commerce. In fact, the Chamber would go even further in recommending that VAT is removed entirely for the time being on energy bills. The Country is in dire need of a sharp economic stimulus and now is certainly not the time for Government to contemplate small limited economic measures”.
Read the full BCC press release here