Commenting on the Budget Statement, Robert Elliot, Director of Business Development & Policy, said:
“For months we have been concerned that this Budget might repeat the chaos businesses faced in October 2024. While this statement is more stable, several measures will still have a significant impact on the 1360 Member businesses we represent.
Last year’s Minimum Wage and National Insurance changes were hugely damaging. Particularly to small, medium sized businesses, the SMEs. A further increase in the living and minimum wage levels will be welcomed by many. But this is only going to create pressure across companies as supervisors, and managers see their differentials narrowed and request increases. Wage growth may lead to cost increases and competition gaining the upper hand.
We welcome the support for under 25 apprenticeships and measures being introduced to promote youth employment. As a Chamber we are delivering the Local Skills Improvement Plan. We will ensure that part of this plan’s activities will be to signpost businesses to the financial support, and we will be working with local partners and training bodies to maximise the support.
We also welcome Business Rate support for hospitality, leisure and retail premises. It is essential that implementation is swift and that the £500,000 cap does not exclude too many businesses.
On sustainability, we wait to see the real effect on the adoption of EV’s now that their financial attractiveness might have been compromised. Equally we have several Members who have high energy usage. Whilst the Industrial Strategy laid out some industries that might benefit for levy savings, there are a number still awaiting clarification and we will lobby on their behalf.”
Regarding lobbying, we collaborate daily with the British Chamber of Commerce. Part of that collaboration is the Quarterly Economic Survey; there is still time to complete the current survey : https://lnkd.in/eTtQ8HGQ“