21

Reduced energy support risks businesses closing and wider economic objectives for government.

Conclusion
The reduced support could risk the Department achieving its wider economic objectives for the EBRS, such as reducing the effect of inflation and protecting jobs.48 The Federation of Small Businesses (FSB) told us that if energy prices remained high and the EBRS was taken away, 24% of their members would consider closing, downsizing or radically restructuring.49 While gas prices have recently fallen significantly from the record-high levels in 2022, the FSB and Hospitality UK told us that they were concerned in particular about businesses that signed up to a fixed energy tariff in the second half of
Government Response

A response document is linked to this report, dated 24 September 2023. Response attribution to this conclusion has not been verified. Read the response document.

Addressee Bodies
HM Treasury
Timeline
Recommendation age 3.2 yrs
Report published 16 Jun 2023