Some business owners in Northern Ireland have said rising energy prices have forced them to lay off staff in order to stay afloat
Several businesses have reported energy price increases of thousands of pounds.
A reduction in VAT to a level similar to that in the Republic of Ireland, where the VAT rate has been 9% since the pandemic, would help, he said. Mr Bannon described the recent price hikes as "very worrying". He is preparing cost-cutting measures "to make the business viable", with the possibility of decreasing his workforce and opening hours."There needs to be some sort of financial support for businesses and it needs to happen very quickly."'Nobody wants to buy in this scenario'
With the rise in energy prices, coincided with a return to pre-pandemic rates, Mr Raman said he has said to let three members of staff go. A spokesperson said it was working with government to secure further support measure to help all those impacted by energy costs and cost of living pressures.
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