Harlow MP, Robert Halfon, has welcomed the Government’s commitment to back British businesses with more support to tackle rising energy bills this year.
The Energy Bill Relief Scheme currently in place has capped energy bills for all energy bill payers and has extended support to businesses, charities and public sector organisations including schools and hospitals. From March, this scheme will be reformed with a suite of new measures unveiled to support businesses until March 2024.
The Government has confirmed that energy bills will continue to be capped for businesses until March 2024, with discounts of £6.97 per megawatt hour of gas and £19.61 per megawatt hour of electricity applied automatically to bills. Additional support will be available for businesses in particularly vulnerable or energy intensive sectors such as manufacturing. These businesses will see discounts of up to £40.00 per megawatt hour of gas and £89.10 per megawatt hour of electricity on their bills.
Recognising that more must be done to support businesses in communities like Harlow, the Government has also announced other measures, including reducing business rates bills by £13.6 billion over the next five years, cutting fuel duty by £2.4 billion across the UK and pledging no corporation tax rises for businesses with profits of £50,000 or less.
Welcoming the announcement, Mr Halfon commented, “Harlow and the villages are home to countless businesses and employers of all sizes that not only offer jobs to local people but also provide vital products and services and contribute to the community spirit everybody in Harlow is proud of.
“Just before Christmas, I was privileged to visit three local small businesses, Shwe Beauty, Griffin Cafe and Smiles Montessori Nursery, on Small Business Saturday to present awards recognising them for their commitment to Harlow and the villages.
“I welcome the Government’s ongoing work to support local businesses such as Shwe, Griffin Cafe and Smiles Montessori. It is vital that we invest in the businesses which are the lifeblood of our local economies and the Government’s plan to cap energy bills, reduce corporation tax and cut fuel duty does just that.”