Budget reaction: Investment key to Uk’s brighter future

March 15, 2023

Giving her initial reaction to today’s Spring Budget, Shevaun Haviland, Director General of the British Chambers of Commerce, said:

“The Chancellor has acted to address the unfilled jobs blighting our economy. It is especially good to see the help on childcare and for over 50s workers. The plans for full capital expensing are also a step in a right direction to offset the rise in corporation tax, but the jury is out on how it will impact businesses compared to the Super Deduction scheme.

“Almost half of businesses have told us they will struggle to pay their energy bills from April, and they cannot invest when they are fighting to survive. There is little in today’s announcement that will provide comfort to these firms.

“The Government failed to reform business rates which we have repeatedly called for. If the UK’s innovative growth industries are to remain competitive on the world stage, then Government must shift the dial further on investment, both within the UK and from overseas.”