Business groups have told next Prime Minister Liz Truss that she needs to act quickly to avert a crisis that could be “every bit as severe as that presented by Covid.”
Ms Truss’ victory in the Conservative leadership election will see her become PM at a time of soaring inflation and energy costs that many businesses say they cannot afford to pay. She has said she will announce a package on energy bills within a week, but business leaders have lined up to call for swift action on the costs facing both companies and their customers.
Stephen Patterson, chief executive of Newcastle city centre business group NE1 Ltd, said: “The new Prime Minister and her cabinet need to hit the ground running to deliver a radical package of support to tackle the cost-of-living crisis for people and businesses. Swift, bold, and decisive action is needed now, without delay, to avert a crisis that, if not addressed, could leave many hundreds of thousands of people without jobs. Leaving many families not just with concerns about how the pay the fuel bills, but how they pay any bills.
