Warning over soaring energy costs for firms
Rising energy costs are putting Scottish firms under enormous pressure and could lead to closures and job losses, business leaders have warned as they called for more UK Government support.
Dr Liz Cameron, chief executive of the Scottish Chambers of Commerce, said that many businesses were still operating in survival mode amid Brexit and the pandemic and were finding it impossible to keep pace with energy price rises.
A head of the UK Government autumn Budget, she has written to UK Chancellor Rishi Sunak, calling for the introduction of a small and medium enterprise energy price cap to protect Scottish businesses from the increasing price of gas and electricity ahead of the winter months.
Dr Cameron said: “In the past few weeks, the UK has reached a crisis point over gas and electricity prices, and businesses are feeling the consequences.
“Many businesses in Scotland are still operating in survival mode and continue to recover from the dual challenges of the UK’S departure from the eu and the impact of the global coronavirus pandemic.
“It’s impossible for firms to keep pace with these exorbitant rises in energy prices and these cost pressures are putting many businesses under enormous pressure and resulting in these rising cost pressures increasingly being passed on to the consumer.”
A UK Treasury spokesman said: “The Budget and Spending Review next week will set out how we will continue to invest in public services, businesses and jobs while keeping the public finances on a sustainable footing.”