Chamber reaction to Chancellor’s autumn Budget
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Rachel Anderson, assistant director of policy at the North East Chamber of Commerce, said: “We welcome many aspects of the Budget today and recognise the government has tough decisions to take for the long term.
“In a number of crucial areas for North East business and employers the government has listened to our collective calls for a stronger, fairer region, including on skills, infrastructure and the national framework for investment.
“The employers’ National Insurance rise will be difficult for businesses, especially against the backdrop of increases in national minimum wage. We do however welcome the Chancellor’s increase in employment allowance, which will help many of our smaller businesses.
“There is positive news for investment in the electric vehicle and the automotive sector in our region, and for Crown Works Studios in Sunderland, which is expected to create over 8000 jobs in the region.
“We were pleased to see the Chancellor’s commitment to multiyear local authority funding and the announcement that the North East Combined Authority will be eligible for integrated funding settlements from 2026/27. The commitment of £300million for the further education sector is positive but does not go far enough. These are both measures we called for in our pre-Budget submission and our Stronger, Fairer North East document.
“It’s good that government is maintaining business rates relief for retail, hospitality and leisure to support our high streets, and we welcome the Chancellor’s freeze on fuel duty.
“We recognise the government has tough decisions to take for the long term and having pressed reset with this Budget, the government needs to use future fiscal events and policy initiatives to support business in the delivery of growth.”