The Government should hand more power to energy regulator Ofgem, cut VAT and introduce pandemic-style emergency grants in order to help businesses facing rocketing costs, the British Chambers of Commerce (BCC) has said.
The business group has said action must be taken quickly to “protect businesses, livelihoods and jobs” in a letter to the Prime Minister, Chancellor and both candidates for the Conservative Party leadership.
Firms have seen their energy costs surge in recent months as the invasion of Ukraine by Russia has accelerated increases in gas and oil prices.
