The Chamber of Commerce says its members ‘broadly’ welcome the government’s support package, but it has warned that small businesses need help.

Last week saw the Treasury Minister Dr Alex Allinson unveil a package of measures, including a free on electricity prices until March 31 for residents and businesses.

In its response, the Chamber, which represents the interests of businesses, said its members were ‘grateful’ for the government’s support.

A spokesperson said: ‘In recent weeks, feedback received from employers and employees has made it clear that there are widespread concerns about the winter ahead, especially because of the rising costs of energy. The Chamber has been lobbying the government for more support, so we are pleased with this latest package.’

The Chamber said that the electricity price freeze will help deal with the ‘key concern’ of businesses and the wider community, how they will heat their homes, run their shops or offices and feed their families.

It added that as well as supporting families and residents, the freeze in bills for businesses, particularly food retailers and suppliers, should help to keep the cost of food on-island as low as possible through the winter, even while other costs increase.

The spokesperson added: ‘The electricity price cap is not so beneficial for the many smaller businesses that contribute greatly to the vibrancy and vitality of the local economy and its communities – but it does at least help them to plan ahead and budget for the next six months.’

The Chamber warned that ‘this is going to be a very tough winter for most businesses on the island’ and that among the talks it is engaged in, will look at how smaller businesses can receive more support from energy suppliers.

Among the other support outlined by the government, bus fares will be capped at £2 per journey.