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370,000 UK Firms Could Close, Cut Staff as Energy Support Ends

  • Government aid for energy bills to drop off next month
  • Lobby group says businesses need to renegotiate contracts

Some 370,000 small businesses in the UK will be at risk of job cuts or closure when government support for energy bills effectively stops at the end of next week, according to a leading lobby group. 

To keep up with the bills, businesses need to be able to renegotiate their energy contracts to reflect lower wholesale prices, especially firms that signed fixed contracts when the government support was in place, said Tina McKenzie, policy chair of the Federation of Small Businesses.