A £10 billion bailout should be used to keep afloat small businesses struggling with soaring energy costs, the Liberal Democrats have said. High streets risk turning into “ghost towns” unless small firms are handed a lifeline, ministers have been warned.
Emergency legislation for a Covid-style support scheme should be introduced as soon as MPs return to Westminster on Monday, Lib Dem leader Sir Ed Davey said. The scheme would offer grants of up to £50,000 to shops, pubs, restaurants and all small businesses to help them cope with uncapped rises in bills, with the party suggesting the measures could be funded through increased taxes on banks.
Sir Ed said: “Our treasured high streets risk being turned into ghost towns and small businesses across the country risk being devastated by sky-rocketing energy bills, but Conservative ministers don’t seem to get it or care. Local shops, pubs and restaurants could all close their doors for the last time over the coming months unless the Government steps up urgently. We need an energy bailout now to save the high street, rescue small businesses and keep prices down for families.”
