WNY Chamber responds to Spring Statement
Mark Casci, head of policy and representation at West & North Yorkshire Chamber of Commerce, said: “Whilst the news that the nation’s economy is heading in the right direction is of course to be welcomed, there are still some key areas which require attention.
“The economy is expected to grow but at a rate lower than two per cent. Further acceleration is needed if businesses are to have long-term confidence to grow.
“And of course the OBR’s inflation forecast was produced ahead of the disruption caused by the widespread military clashes seen in the Middle East.
“Yorkshire’s employers need to feel the wind at their backs so they can invest, create more jobs and produce greater goods and services that our region has been synonymous with for centuries.”
Shevaun Haviland, Director General of the British Chambers of Commerce, said:
“Recent BCC research shows more firms want to expand, with nearly half intending to grow this year, compared to a third in 2025.
“To turn that optimism into a reality the government is right to focus on boosting exports, increasing regional investment and transforming productivity.
“The immediate priorities must be accelerating long overdue business rates reform and making sure changes to employment rights don’t add unnecessary costs.
“Alongside this, firms need policies that help them invest in skills and AI to increase productivity.
“Trade is also vitally important. Tariffs aren’t going away and the EU Reset needs to be properly handled to give British firms the best platform possible to grow exports.
“Finally, with growing geopolitical uncertainty, we need to get Defence right. The Government must unveil its Defence Investment Plan as soon as possible. It’s vital for the UK’s security and our economy.
“Clear spending decisions would unlock private investment, support SMEs, and boost jobs, skills and regional growth. But it is crucial that government procurement gives smaller firms the chance to compete.
“The Plan also strengthens the UK’s case for access to the EU’s defence finance facility. That could give British firms a chance to bid into major European defence projects and secure further export-led growth.”
