Business leaders are set to write to Suffolk's MPs as firms across the county face being wiped out by soaring utility bills and a drop in footfall.

Already in 2023, Ipswich has lost two restaurants, La Cueva and K Bar and Grill, who both blamed rising costs and a decline in the number of customers.

East Anglian Daily Times: La Cueva and K Bar and Grill - both on the same Ipswich street - closed as a result of rising bills and decreased footfallLa Cueva and K Bar and Grill - both on the same Ipswich street - closed as a result of rising bills and decreased footfall (Image: Newsquest)

Many other Suffolk firms are also being forced to close doors or reduce opening hours.

Paul Simon, head of public affairs & strategic communications at the Suffolk Chamber of Commerce, said the county's recovery from the pandemic and ongoing cost of living crisis "will partly depend upon how the Government helps businesses to cope with continuing price rises".

East Anglian Daily Times: Paul Simon of the Suffolk Chamber of CommercePaul Simon of the Suffolk Chamber of Commerce (Image: Newsquest)

"Suffolk firms are now caught in a mesh of squeezed margins, reduced investment and a declining confidence in being able to deliver their growth plans over the next year or so," he added.

As a result, the Chamber has announced plans to write to Suffolk's seven MPs to ask them to support "a largely unchanged EBRS for at least the next 12 months or explain which sectors in Suffolk they believe should be prioritised". 

The revised scheme is expected to offer help with bills for a further year, until March 2024 - but energy support is expected to be signficantly cut.

East Anglian Daily Times: The Suffolk Chamber of Commerce is set to write the county's MPs to ask them to support further government supportThe Suffolk Chamber of Commerce is set to write the county's MPs to ask them to support further government support (Image: Newsquest)

The current scheme – which caps wholesale energy prices on electricity and gas at about half the expected market price – ends in March.

Business group have been left furious over Chancellor Jeremy Hunt's delay in setting future plans for support by the new year - an announcement that was originally due before the new year.

East Anglian Daily Times: Chancellor of the Exchequer Jeremy HuntChancellor of the Exchequer Jeremy Hunt (Image: PA)

As a result, Mr Hunt is believed to have called a lunchtime meeting on Wednesday to brief the business groups on what shape the support will take.

"Capping energy costs for a further reasonable period of time will allow management teams and business owners to reconfigure their plans," said Mr Simon.

"It will also ensure the ongoing declines in cashflow, investment, profitability and turnover are arrested before they show through as significant increases in business failures and job losses."

It is understood that final details on the new package are likely to be announced by the chancellor next week.