Some North East businesses closing their doors due to energy prices
Newcastle business improvement district say businesses are worried about the cost of energy bills with some even having to close their doors.
They tell us prices for businesses have increased by 70% over the last 4 or 5 years.
Stephen Patterson, Chief Executive of Newcastle NE1, said: "Adding to the costs that they've already had put upon them by the subsequent two budgets in terms of minimum wage, which has increased 70% over the last five years, obviously changes to National Insurance and also business rates as well.
"Especially for those businesses such as retail and leisure that rely on consumer spend and people, I suppose, feeling affluent to dispense with their cash.
"Especially for licensed premises. We've seen another two closures in Newcastle recently. So, this is a very real and present situation for the city's economy.
"I think a lot of businesses today will be worrying about where energy prices will go in the future."