The British Chambers of Commerce (BCC) have shared resources to help businesses summarise the Autumn Budget:
Speaking following the series of announcements, Chair of West and North Yorkshire Chamber of Commerce, Amanda Beresford, said:
“The Chamber warmly welcomes the encouraging news that the national economy is forecast to return to pre-Covid levels in the coming months, markedly sooner than expected. Similarly, the projected peak of unemployment revised to a figure standing at less than half of initial worries is doubly uplifting.
“Businesses will be particularly emboldened by the series of measures announced to support firms with their tax burden. The 50% discount in business rates for retail, hospitality and leisure is also a welcome measure that will go some way in backing three of the sectors hit hardest by the pandemic. Other moves towards business rate reform from 2023, and investment relief to encourage businesses to go green, will be well received among firms up and down the country.
“As with all Budgets, however, the devil is in the detail. £46b for rail investment is a hugely positive step by the Chancellor, and the Chamber calls on the Government to reaffirm their commitment to the levelling up agenda by backing transformative projects such as HS2 East and Northern Powerhouse Rail.”
Sandy Needham DL, Chief Executive for the Chamber, said:
“There’s a series of key day-to-day improvements in the Chancellor’s announcement today. In areas of national policy, such as housing and business support, the Government have taken steps to address issues that are prevalent and holding back growth. These are positive signs and we’d encourage the Government to build pace in delivering on their commitments, particularly on regional development.
“In order to level up areas across West and North Yorkshire, projects promised at the 2019 election must come to fruition, allowing businesses and investors alike to instil confidence in the regional economy. Connectivity is a key barrier for our cities, and so commitment, via the Integrated Rail Plan (IRP), to projects like the West Yorkshire Mass Transit scheme remain important to us. We look forward to hearing of the details of the IRP soon.”