Responding to the Chancellor's Budget statement, Shevaun
Haviland, Director General of the British Chambers of Commerce
said:
“The Chancellor has listened to our
calls and made the right choice by not piling major new
tax rises on businesses' shoulders, which will calm
nerves.
“Firms will be pleased to see the
commitment to transport and infrastructure, and critically
the funding for planners the BCC has called for. It is now vital
that the Government delivers on these
promises.
“Business will welcome support for
youth employment, stamp duty relief, protection for capital
spending, a reduction in business rates multipliers and some
investment tax breaks.
“They will be worried about salary
sacrifice changes, mandatory wage increases, and retention of the
energy profits levy, which will maintain cost
pressures.
“Alongside this, we have seen UK-wide
business support funding of almost £1bn axed and replaced with a
system of piecemeal support which favours select urban regions.
That risks further regional inequality and damage to rural
economies.
“While most businesses
will weather this new financial landscape, they are still
being squeezed by rising costs. Many will be disappointed that
this Budget did not provide a more compelling blueprint to
deliver
transformational growth.”
