UK music industry reacts to Liz Truss’ energy plan: “We are extremely disappointed”

nme.com:

Sky News.There is currently no cap on energy costs for businesses and a specific figure on support has not been given due to differences in how the wholesale energy market operates compared to the retail market.Some music venues have recently reported their bills rising by between 300 and 740 per cent, according to Music Week, raising costs of running the spaces by tens of thousands of pounds.I will deal hands-on with the energy crisis.Today I will take action to make sure people are not facing unaffordable energy bills and to secure our future energy supply.

pic.twitter.com/qHMKad92Sb— Liz Truss (@trussliz) September 8, 2022“We will take immediate action to help people and businesses with their bills and tackle the root cause of these problems, so that we are not in this position again,” said Truss.But many figures in the UK industry were unhappy with the measures.“We are extremely disappointed at the announcement by the Prime Minister today, this half measure package is tantamount to the delivery of support experienced during the pandemic, but lacks considerable detail to alleviate current business concerns,” wrote Michael Kill CEO of the Night Time Industries Association.“”We have no time for drip fed support, or to await the impact assessment of incremental measures, this needs to be a concise and immediately accessible package, which is proportionate and scalable.“As the first major announcement of the Prime Minister and Chancellor’s tenure, the Government has failed businesses today, and with mounting debt across the sector we will see many have no choice but to consider the future, placing thousands of jobs at risk in the coming weeks.”Meanwhile, Music Venue Trust Venue Support Manager, Clara Cullen said the.