“Last year they paid around £400,000 per year… this year it’s £2.1 million” Leicester-based CEO Saeed Khilji says some businesses have already made plans to lay off employees due to skyrocketing energy bills Newsnight
Kwasi Kwarteng - tipped to be the new chancellor - has already indicated the government is prepared to borrow to support the economy.
Nevertheless, the estimated £100bn is a sizeable sum to borrow at the same time as cutting taxes and boosting spending on defence and it could end up costing more than that, given the fluctuating price of wholesale gas. "There has to be a risk that energy prices stay high for a long time, perhaps even up to three or four years," he said. "Then this starts being baked into public spending long-term."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New £49m Leeds Valley Park expansion to bring 500 logistics jobs to cityFunding has been secured to create a massive new logistics site on the outskirts of Leeds that developers say can support 500 new jobs and provide a major boost to the local economy.
Read more »
Kevin Harvick: "Crappy parts" led to fire in Next Gen carKevin Harvick, who was already critical of the safety of the Next Gen car, lashed out at NASCAR after his car caught fire in Sunday night’s Southern 500.
Read more »
Idyllic hotel offers unique business opportunity on NC500 as it goes up for saleThe stunning Highland hotel is found in the beautiful coastal village of Lybster on the famous North Coast 500 route.
Read more »
‘£20 pints not viable for pubs facing closure over soaring energy bills’The chief executive of the Campaign for Real Ale (Camra) group said some pubs were seeing bills go up by 500% to 600%.
Read more »
NASCAR Cup Darlington: Jones beats playoff contenders to shock winErik Jones scored his first victory of the 2022 NASCAR Cup season in the Southern500, as the playoffs got underway at Darlington. Leading title chaser Denny Hamlin was second as contenders Kyle Busch, Kevin Harvick and Chase Elliott hit strife ⬇️
Read more »
Erik Jones pulls off playoff surprise with Darlington Cup winIn a night filled with surprises, Erik Jones provided the biggest – playing playoff spoiler and winning Sunday night’s Southern 500 at Darlington (S.C.) Raceway.
Read more »