Britain announced plans on Monday to scale back energy subsidies for businesses for the next financial year by about 85% to 5.5 billion pounds ($6.7 billion), after the government described the current level of support as 'unsustainably expensive'.
Small businesses call new plan 'a huge disappointment'LONDON, Jan 9 - Britain announced plans on Monday to scale back energy subsidies for businesses for the next financial year by about 85% to 5.5 billion pounds , after the government described the current level of support as "unsustainably expensive".
The finance ministry has been looking at ways to pare back the energy support packages as it tries to stabilise the nation's public finances after the political and economic turmoil under former Prime Minister Liz Truss's short-lived government. Under the new programme, businesses rather than government will have to pay the extra costs if energy prices surge.
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