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UK announces energy support for firms, after borrowing more than expected in August – business live

Rolling coverage of the latest economic and financial news, including the UK government’s energy support package for businesses

Business secretary Jacob Rees-Mogg was spotted yesterday being filmed in Westminster – perhaps for an online video to outline today’s energy support package?

Sam Coates of The Times has the details:

“I think something like this was inevitable. Some businesses were seeing their energy bills going up by five times – or certainly that was likely to happen from October.

“Just as households were going to need some protection, so were businesses.

“I rather wish they had done the same for households because for households and for businesses this is something of almost a panic reaction.

“You have got to do something and the only thing that they can do immediately is protect everybody, whereas in the medium term if this goes on we really want something that is more targeted.”

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