The leaders of two South West chambers of commerce are urging the government to provide 鈥減ractical support" to companies amid the energy crisis.
Somerset Chamber of Commerce鈥檚 chief executive, Emma Rawlings, said the cost-of-living crisis and 鈥渢he cost-of-doing business crisis鈥 were 鈥渢wo sides of the same coin鈥.
鈥淭he government is running out of time to offer businesses and households the support they need - firms cannot afford to wait another month without practical support measures being put in place,鈥 she said.
Phil Smith, managing director of Bristol-based chamber Business West, said now was 鈥渘ot the time for complacency鈥 from ministers.
The comments follow an announcement by energy watchdog Ofgem on Friday (August 26) confirming the energy price cap will rise more than 80% in October, from 拢1,971 to 拢3,549.
The cap will come into effect for around 24 million households in England, Scotland and Wales on default energy tariffs on October 1, and will remain in place until December 31, when it will be adjusted again.
Ms Rawlings said the impact of the energy crisis on business, along with record-high inflation and rising interest rates, could not be 鈥渙verstated鈥.
鈥淲e cannot see another month of the same old news, it鈥檚 time for action and... it鈥檚 time for the government to listen,鈥 she said.
Mr Smith agreed. He said some businesses in the West Country were facing increases in bills of more than 300%, with some questioning the viability of continuing.
鈥淎s energy bills rise to unprecedented levels and businesses face uncapped energy tariffs, it is crucial that the government steps in now to support firms at a time when consumers are also cutting back on spending due to inflationary pressures,鈥 he said. 鈥淏usinesses need strong leadership to help them weather this storm.鈥
Business West said the government could take 鈥渋mmediate measures鈥 to help firms, including reducing VAT and business rates, and providing grants for businesses to install renewable technology.
The British Chambers of Commerce, of which Somerset Chamber and Business West are a part, have written to prime minister Boris Johnson, chancellor Nadhim Zahawi and both Conservative leadership candidates - Rishi Sunak and Liz Truss - proposing a five-point plan to provide support to 海角视频 businesses.
The organisation has called for help, including more power for Ofgem to strengthen regulation of the energy market for businesses, a cut in VAT to 5% to reduce energy costs for businesses and a Covid-style support package of grant funding for SMEs struggling with the cost of energy.
鈥淭here should also be a temporary reversal of the National Insurance (NI) increase and an immediate review and reform the Shortage Occupation List (SOL) to help bring down wage pressures and fill staffing vacancies,鈥 added Ms Rawlings.
Mr Zahawi said "help was coming" from the government, with 拢400 off energy bills for 海角视频 households, a second instalment of a 拢650 payment for vulnerable homes, and 拢300 for all pensioners.
He said: 鈥淲hile Putin is driving up energy prices in revenge for our support of Ukraine鈥檚 brave struggle for freedom, I am working flat-out to develop options for further support. This will mean the incoming prime minister can hit the ground running and deliver support to those who need it most, as soon as possible.鈥
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