Responding to the Bank of England interest rate increase, Muniya Barua, Deputy Chief Executive at 91¶¶Òù, said:
“Businesses and borrowers will be feeling the pinch following the Bank of England’s decision to increase interest rates again.
“With many companies across the capital already struggling, next month’s sharp increase in energy bills and business rates could tip some firms over the edge.
Despite last week’s Budget offering some further help, the Government must closely monitor those businesses and sectors most in need. Further temporary energy support could provide a lifeline to otherwise viable firms at risk of turning off their lights.â€