Fitzgerald calls for an EU price shield to protect small businesses against energy price rise
Press Statement from Frances Fitzgerald MEP
Monday 5th September 2022
Frances Fitzgerald calls for an EU price shield to protect small businesses against energy price rises
Dublin MEP Frances Fitzgerald has today called on the European Commission to put funding in place to shield small businesses from the impact of rising energy prices. EU Energy Ministers are due to meet in Brussels this week in response to energy price rises. European Commission President Ursula von der Leyen, has promised action on energy prices to be announced in her upcoming State of the Union speech. The Eurozone inflation rate was shown to have hit a record level of 9.1% in August.
Frances Fitzgerald MEP said, “In recent weeks we have heard countless stories from small business owners about the exorbitant increases in their energy costs. As the European Commission prepares to announce its plans to intervene in the energy market, it is vital that the needs of small businesses are prioritised. Small businesses are the back bone of our economies and also the heart and soul of our communities. They provide employment and opportunity in every small village, town, and city across the European Union.
“Increases in energy prices put the viability of many small businesses at risk. This increases the potential for job losses and business failures across all EU Member States. Our communities face the risk of increases in unemployment, boarded-up shop fronts, and a loss of opportunities for young people.
“It is vital that funding is put in place to give small businesses more breathing space in the face of energy price rises. This must be recognised when Energy Ministers meet in Brussels this week and also when the European Commission President Ursula von der Leyen presents her “State of the Union” speech next week. The causes of these price rises are global but we must make sure that our small businesses are not the primary victims. Not only would this be detrimental for our economies, but also our societies.”