While investments announced today will take time to bed in, Government should consider other action that will relieve immediate pressures, particularly on smaller businesses. This should include an urgent review of the shortage occupation list to allow for short-term visas in key sectors, and an SME energy price cap.
The Chancellor has listened to Chambers’ long-standing calls for changes to the business rates system and this will be good news for many firms.
While businesses support the minimum wage, the size of this increase – with less than six months’ notice - will cause significant concern, especially with so many smaller firms already struggling.
Improving the quality and reach of early-stage finance is crucial for levelling up economic opportunity across all nations and regions of the UK
The Workplace Training and Development Commission, led by the BCC, has made it clear that considerable upskilling is needed to enable businesses across the country to grow and thrive.
Boosting inward investment into the UK can provide the foundations for our future economic prospects for many years.
With more than one million vacancies currently available much more needs to be done to close the skills gap and improving numeracy sits at the very heart of that.
This investment will be a welcome boost toward levelling up and will also be vital in achieving our net zero targets by funding more efficient, reliable and greener public transport.
A survey of 2,600 UK exporters has revealed that the recovery in export sales has largely stalled in Q3. The proportion of firms reporting increased sales rose only three points (to 30%) from Q2 (27%), whilst the proportion reporting decreased sales fell by just two points (Q3:26%/ Q2: 28%).
The announcement of a deal between the US, the UK, France, Austria, Italy and Spain on digital services taxes, and transitioning unilateral measures taken beforehand, will be strongly welcomed by business in the UK