19.9 C
Lancashire
Wednesday, July 24, 2024

NWLCC’s initial response to today’s budget

“Businesses who have been hit hardest  by this year’s business rates revaluation may take some comfort  thanks to the Chancellor’s decision to offer a array of intermediate reliefs” observed Babs Murphy, chief executive, North & Western Lancashire Chamber of Commerce, who further commented:

“Our local authorities must be honour bound to use every penny of the new funding announced by the Chancellor to provide relief to the hardest-hit businesses in their areas, without any excuses and without delay.  This short-term measure, albeit little more than a sticking plaster, will broadly be welcomed, together with promises on technical education, digital connectivity, easier R&D tax credits and a one-year delay to digital tax reporting for the very smallest firms.

“The campaign for radical reform – and an end to punishing levels of business property tax to ensure the Treasury raises enough to fund local services – continues

“Hikes to dividend taxes and national insurance for the self-employed will be viewed far less positively by entrepreneurs and much more needs to be done in the coming months to improve infrastructure and encourage lagging business investment to ensure the UK is Brexit-ready.

“Businesses had been advised to expect minimal change, rather than a epic Budget, and the Chancellor did not disappoint.”

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