“From next week, firms face an unpalatable menu of higher national insurance (NI) and minimum wage bills, coupled with the impact of further US tariffs. There will be little escape for businesses, with our research showing 82 per cent of firms will be impacted by just the NI rise,” BCC director general Shevaun Haviland said in a statement.
“We want to see her outline a wider tax road map, which includes national insurance and business rates, giving firms a clearer idea of when costs will be lowered,” she said.
“Businesses also want to see faster movement on infrastructure development and renewed support for exports, including a UK/EU reset that removes trade barriers. Finally, the government must do all it can to minimise costs and complexity for business from the proposed Employment Rights legislation,” she noted.
“Businesses are key to getting the economy out of its current growth rut. The chancellor needs to pull every lever possible this week, and in the coming months, to get firms investing, recruiting and exporting,” she added.
The Spring Statement updates parliament and the nation on the economy, public finances and progress against the government’s economic objectives, and is accompanied by publication of an Economic and Fiscal Forecast from the office for budget responsibility.
Fibre2Fashion News Desk (DS)
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