Government urged to rethink TBESS benefit cap: Retail Ireland
Cap should be raised and additional support offered to businesses where their viability is under threat, says Retail Ireland
25 October 2022 | 0
The Temporary Business Energy Support Scheme (TBESS) will not provide effective support for many retail businesses managing dramatic energy cost hikes, Retail Ireland, the Ibec group that represents the retail sector, has warned.
The group was responding to the Finance Bill which was published on 20 October, and can be viewed here.
Retail Ireland welcomed the fact that the scheme will provide meaningful support to businesses operating a small number of outlets, but the value of the scheme will be much more limited if a business has to spread the supports across a larger network of stores.
“While the €30,000 monthly cap in energy supports is significant, for many businesses managing unprecedented energy costs across numerous sites, it will not be enough to ease the pressure. The cap should be raised and additional support offered to businesses where their viability is under threat,” said Retail Ireland director Arnold Dillon.
“Designing and tailoring an energy support package for the wide range of businesses across the economy is not straightforward,” he added, “but it must be far-reaching and equitable given the scale of the challenges that many companies, large and small, are now facing. Each individual shop should have equitable access to government support packages.”