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<p>We understand that businesses including convenience stores are facing cost pressures
such as high energy and commodity prices, which are impacted by global factors.</p><p>
</p><p>The Government engages in regular dialogue with a wide range of Business Representative
Organisations (BROs) across the UK and will continue to do so. BRO feedback is valuable
in understanding the wider economic landscape and to inform and evaluate ongoing policy
making. BRO reportage has provided important insights in the context of the various
business support measures the Government has announced.</p><p> </p><p>For the retail
sector this includes:</p><ul><li>The Recovery Loan Scheme, which has been extended
to 30 June 2022, providing businesses with up to £2 million of government guaranteed
finance.</li><li>Cutting business rates by 50% for eligible retail, hospitality and
leisure businesses in 2022-23, worth up to £110,00 per business.</li><li>Increasing
the Employment Allowance from £4,000 to £5,000, cutting the cost of employment for
495,000 small businesses.</li><li>Businesses will also benefit from the cut to fuel
duty announced by the Chancellor as part of his Spring Statement. The duty rate on
petrol and diesel has been cut by 5p per litre until March 2023.</li></ul><p> </p><p>The
Government is in regular contact with business groups about the challenges businesses
are facing and we will continue to keep the situation under review. The Government
is always open to hearing from businesses on the issues they are facing.</p>
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