Retail (Cost Pressures)

Part of the debate – in the Scottish Parliament on 28th September 2022.

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Photo of Tom Arthur Tom Arthur Scottish National Party

As outlined in our programme for government, we will work with the business community to identify further measures that can assist in addressing increased costs and economic disruption. However, as the member will appreciate, the powers and resources needed to tackle this emergency on the scale required—access to borrowing, welfare, VAT on fuel, taxation of windfall profits, and regulation of the energy market—currently all lie with the United Kingdom Government. We have continually urged the UK Government to use all the powers and fiscal headroom at its disposal and we will continue to do everything within our resources and powers to help those who are most affected.

We have been calling for the UK Government to introduce a business energy cap for some time. I welcome that it has now done so, but without substantial reform to the energy market, there is a real risk that this temporary measure will prove to be inadequate.