Issue 124
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Cut Energy VAT Now or Face Mass Closures Say Sector Leaders Business organizations have called for the introduction of Covid-style emergency grants and a cut in VAT as part of a package of measures to help firms survive spiralling energy costs, as leading figures in the hospitality industry fear the government has left it too late to help bring pubs and restaurants facing closure over energy costs back from the brink this winter. Domestic energy supplies are capped by the regulator Ofgem, but that does not extend to commercial premises, which have been hit by soaring wholesale costs impacted by Russia’s invasion of Ukraine. Earlier this week independent brewers urged ministers to step in to save the
sector, as research conducted by trade publication Morning Advertiser revealed more than 70% of pubs do not expect to survive the winter if nothing is done to ease energy costs. Roy Allkin, Chairman of the Society of Independent Brewers (SIBA) said: “With energy bills soaring we are calling on Government to back British beer and help independent brewers with an energy price cap for small businesses, and to offer grants and incentives for the many businesses looking to brew with more green energy.”
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