Business: Cost of Living

(asked on 1st December 2022) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what discussions he has had with businesses in Wirral South on the potential impact of the cost of living crisis on those businesses.


Answered by
Kevin Hollinrake Portrait
Kevin Hollinrake
Minister of State (Department for Business and Trade)
This question was answered on 9th December 2022

The Government recognises the impact rising prices are having on businesses, including those in Wirral South, and is engaging with businesses across the UK to understand these challenges and explore ways to mitigate them.

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The Government has reversed the National Insurance rise, saving SMEs £4,200 on average, cut fuel duty for 12 months and brought in the Energy Bill Relief Scheme, which is shielding businesses across the country from soaring energy prices, saving some around half of their wholesale energy costs.

We have also announced £13.6 billion of support for businesses over the next five years, reducing the burden of business rates for SMEs.

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