UK to cut business energy prices by more than half

  • 📰 IrishTimesBiz
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 77%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

British government introduces new subsidy scheme to stop wave of corporate collapses this winter via IrishTimesBiz

The UK is battling the worst cost-of-living crisis in a generation, and the government is scrambling to try to contain inflation stoked by Russia’s restriction of gas supplies to Europe following its invasion of Ukraine.

The government said on Wednesday its emergency energy support scheme for businesses would mean certain companies secured a drop of up to 50 per cent in their gas and electricity bills compared with if ministers had not intervened. Jacob Rees-Mogg, business secretary, said the cost of the government’s company support scheme would be “tens of billions of pounds unquestionably”.

Under the scheme the level of “price reduction for each business will vary depending on their contract type and circumstances”, said the government. The scheme will apply to all energy contracts signed with suppliers since April 1st and will last for six months from October 1st.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

IrishTimes This to help Rees-Mogg and Co?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Energy costs: Company moves to four-day week to save on billsTwo Cork-based companies are taking action to cut energy costs and avoid outage uncertainty
Source: IrishTimes - 🏆 3. / 98 Read more »

Landlord income tax should be slashed to keep them in market - ChambersThe tax landlords pay on their income should be cut in half to keep them from leaving the market - Fianna Fáil Senator Lisa Chambers. Agreed the I unit landlord who complies in a RPZ is hammered in tax , no incentive at all . What is wrong with landlords selling houses? Someone will still live in them afterwards. why stop it? Buy them and use them as council housing, better for the tax payer
Source: NewstalkFM - 🏆 19. / 55 Read more »