Cost-of-doing-business crisis | Business leader calls for extra Government support

With the prices of energy, labour and raw materials currently skyrocketing in the UK, Shevaun Haviland, the Director General of the British Chamber of Commerce has made a public plea to Chancellor Rishi Sunak.

The statement, released today, called on Sunak and the Government to create an ‘emergency budget’, with the hopes of supporting companies who may be struggling.

The announcement was made following the confirmation from the Bank of England that the UK economy was highly likely to nosedive into a severe recession, with energy prices pushing inflation above ten per cent.

Haviland noted in an interview with the Financial Times that business confidence has fallen sharply since the start of April 2022, as companies have been required to absorb the current soaring energy costs, along with a widespread economic downturn.