CUC base rate hike hits SMEs and dents budget cut

(CNS Business): Hot on the heels of government’s announcement that it is cutting 25 cents off the fuel duty paid by CUC on diesel, a base rate increase has been approved by the ERA which will suck up some of the anticipated government cut for business bills. The change in CUC’s rate will cut residential bills on average by 1% but it will translate into a 2.8% increase in the average general business customer’s bill and a 1.1% increase for large commercial customer’s bills, a hard hit for small businesses, the sector government was trying to help in the budget this week. CUC said the rate adjustment will come into effect after 1 June. Read more on CNS Business

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