How are businesses coping with rising costs across the board?

As a result of Europe’s ongoing energy crisis, Irish businesses are experiencing rising costs across the board.

“This is a shock to the economy, a shock to everyone concerned” says Tony Walker, general manager of the Slieve Russell hotel and golf resort in Co Cavan.

Speaking on The Irish Times Inside Business Podcast, Walker tells host Cliff Taylor how the hotel’s energy bills have more than doubled in two years.

“For the January to July period 2019, our bill was €214,000, and this year it’s sitting at €478,000,” he explains.

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It’s not just energy bills that are doubling, with suppliers to the hotel also raising their prices as a result of the crisis. Yet, Walker is adamant this won’t be passed over to their patrons.

“This can not impact the customer or the guest, I don’t want to increase any of our prices,” he says.

We also hear from Irish Times Business Affairs Correspondent Mark Paul who explains what the Government might do to respond to the crisis.