WNY Chamber responds to Autumn Budget

Responding to today’s Budget, Victoria Wainwright, Chair of West & North Yorkshire Chamber of Commerce, said:

“As a Chamber of Commerce we were adamant prior to the Budget that there should be no new taxes on SMEs and it is pleasing that Government has heeded this message.

“The rise in the threshold that firms begin paying Business Rates is to be welcomed, especially for those working in retail and hospitality. Measures to prevent online marketplaces allowing users of their platforms to avoid paying VAT also has the potential to boost small businesses.

“Similarly, increased fiscal devolution to our mayors will mean greater decision-making powers in our communities. The £15m in funding for Leeds College of Building will also make a huge difference to construction skill capacity for the whole region.

“However, there still remains significant challenges for employers that were not addressed in this Budget. Next year’s Spending Review needs to focus on reducing the significant cost pressures facing businesses if the country is to deliver the growth it needs.”