Suffolk Chamber statement on the energy profits levy

“Businesses and the rest of society exist in a symbiotic relationship – the prosperity of both is intrinsically linked.  So we are pleased with the support being given to households as people are facing real hardship amid one of the worst cost-of-living crunches in recent memory.

“Yet the energy profits levy seems to offer no relief to hard-pressed businesses coping with accelerating energy and fuel costs.

“Business support, even of a temporary nature, would certainly have been welcomed by our membership and the wider Suffolk business community. Our most recent Quarterly Economic Survey shows the growing pressures on the wide range of sectors we represent in reports of declining cashflow, static or declining domestic and overseas sales and orders and question marks over short-term profitability levels.

“Unless steps are also taken to ease business costs and soon, they will likely feed into the inflationary pressure on the economy and quickly eat into the financial support announced today."