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Subsidies for UK traders this time.

Subsidies for UK traders this time.

Photo: Fuel Oil.

People in Gerber UK due to high fuel prices. As the new prime minister, Liz Truss's first act was to set a cap on household fuel spending. This time he also fixed the fuel cost limit for business establishments.

UK businesses, charities and government bodies are set to cap their fuel costs, as announced by the government. According to the relevant department of the UK government, the price of electricity will not exceed 211 pounds per megawatt hour, and the price of gas will be 75 pounds per unit.

Those who fall under this price reduction will automatically get fuel at this reduced price. Suppliers will provide these at reduced prices. The government will compensate them. This will be applicable to those who have entered into a fuel purchase agreement from April 1 this year. It will be applicable from October 1 to March 31, 2023.

UK trade minister Jacob Rees-Mogg said the support package would cost the government billions of dollars. However, he could not give a proper account of it. Because, the issue will depend on the wholesale price of fuel.

However, Jacob Rigg believes that this package will give confidence to the people of the UK in the coming winter. But the UK's debt hit a record high in August as the UK has been providing benefits to its citizens since the start of Covid-19, and more recently with subsidies to cushion the impact of higher fuel prices.

A number of UK businesses, however, want more support from the government. According to them, if people can't go to shops, pubs or clubs, there's no point. Rather, they want the government to reduce VAT. This will increase the cash flow of the business.

Paul Cook, director of the Angry Parrot Club, told The Guardian, "Our business has dropped by 40 percent in the last month." They hope the project will speed things up.

Apart from this, another reason for concern is that the period of this subsidy is six months, it is difficult to say what will happen after that. As a result, a kind of uncertainty remains.

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