Business groups say challenges remain despite encouraging Budget

    Simpson Wood
    24th April 2024
    Home » Categories » Business » Business groups say challenges remain despite encouraging Budget

    The UK’s business groups warned that challenges remain despite the Chancellor delivering an encouraging Spring Budget.

    The British Chambers of Commerce (BCC) said that while the cut to NICs would ‘boost jobs’ it had failed to ‘shift the dial’ for business.

    Shevaun Haviland, Director General of the BCC, said:

    ‘Following the Autumn Statement this Budget was always set to deliver less for business, although changes to national insurance will provide some momentum.

    ‘However, beyond this there were no major announcements to help shift the dial on conditions for business. Business confidence is improving but the coming months will remain challenging for many companies. It is vital that the economy remains front and centre of the campaign to come.’

    The Institute of Directors (IoD) branded the Spring Budget ‘unremarkable’ for businesses.

    Roger Barker, Director of Policy at the IoD, said:

    ‘First and foremost, business was hoping for a Budget that would maintain a stable and credible policy framework for business. The Chancellor largely delivered that. However, beyond that, there was little in the announcements that can be regarded as a game-changer for business.’

    Meanwhile, the Association of Independent Professionals and the Self-Employed (IPSE) said the Chancellor had ‘failed to address the substantive issues holding the self-employed back’.

    Andy Chamberlain, Director of Policy at IPSE, said:

    ‘The self-employed make an enormous contribution to our economy and society, but it could be even greater if the government were to grasp the nettle of IR35 and address the forthcoming impact of Making Tax Digital for Self Assessment.’

    Internet link: BCC website IoDwebsite IPSE website

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