New prime minister Liz Truss’s swift announcement of measures to help keep energy costs down has been welcomed, but more may be needed, say Lancashire experts.
“However, the announcement is very high-level and sparse on detail."Small businesses’ instant reaction is that this is not enough information, yet, for them to plan.”
"But there are still big questions about whether this will be paid for by the taxes of working people.“These measures alone won’t end the cost of living crisis. It is still going to be a very challenging winter for those in low paid, insecure jobs whose wages are not keeping up with rising prices. He said:"Businesses would also welcome a freeze or overhaul of business rates to help them better manage their medium-term costs and gain access to crucial government-backed credit, particularly as interest rates for mainstream capital remain at high levels and many businesses in the hospitality sector are sorely underfunded.
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