Newry Chamber and city's BID join calls for rates relief as businesses ‘beyond crisis point’

Newry Chamber of Commerce and Trade and Newry City Centre Management (BID) have joined calls for urgent help for businesses in the wake of rising energy costs

The organisations say many local businesses are struggling to cope with the soaring costs of gas and electricity with some facing bills as high as £100,000 for a six-month period.

They are calling on the government to take immediate action to provide financial support to businesses.

Newry Chamber President says it is beyond a crisis point for many businesses

“We are hearing from businesses on a daily basis who are facing crippling energy bills,” said Newry Chamber President Ciaran Mulgrew.

“They are having to make tough decisions about whether to lay off staff, reduce their hours or even close their doors altogether.”

“This is not just a crisis for individual businesses, it is a crisis for the entire local economy.”

Newry BID Manager says it's the biggest crisis they have faced during their 13 years in operation

“This is the biggest crisis we have faced during our 13 years in operation,” said Newry BID Manager Ciaran Murray.

“We are calling on the government to take urgent action to provide financial support to businesses.”

“We need a rates relief package, similar to the one that was introduced during the Covid-19 pandemic.”

“We also need a long-term solution to the rising cost of energy, such as a cap on energy prices.”

The calls for help come as businesses across the UK are facing similar challenges.

In England, the Confederation of British Industry (CBI) has warned that the rising cost of energy could lead to a wave of business closures.

The CBI is calling on the government to provide financial support to businesses, including a cut in business rates and a reduction in VAT.

The Scottish government has already announced a £375m package of support for businesses, including a £100m rates relief scheme.

The Welsh government has also announced a £120m package of support for businesses, including a £75m rates relief scheme.

The UK government has so far resisted calls for a business support package, but is said to be monitoring the situation closely.