Energy Prices: Support for Business

Jim Shannon Excerpts

Thursday 22nd September 2022 Commons Chamber

[Mr Rees-Mogg]

The hon. Lady is right to raise what is going on with the cost of living more generally. Energy is an important part of that, and helping to deal with the energy problem will have an effect on price rises throughout the economy. The Bank of England will say something later today, which is another part of dealing with inflation. I accept her analysis that inflation is a very difficult problem for an economy to face.

[Jim Shannon (Strangford) (DUP)]

I thank the Secretary of State for his commitment and help for all the different sectors across my whole community. On Monday, I met a business owner in my community who employs more than 200 people. His is an energy intensive factory business and the cost of energy for a year is a large six-figure sum. He needs help right away to secure those jobs and ensure that the future is secure for him and his company. I ask the Secretary of State to clarify again whether that business owner will qualify for the 50% help toward energy costs, particularly for electricity.

[Mr Rees-Mogg]

I do not know the circumstances of any individual company, but if the company is on mains gas and electricity, it will benefit, and it will benefit from 1 October. In Northern Ireland, both gas and electricity will be almost identical—slightly different for technical differences, but the same in effect—to what is happening in GB.