Chamber reaction to fiscal statement
Date published:
John McCabe, Chief Executive, North East England Chamber of Commerce:
“None of this is easy for government but the chaos at the top has to stop. We all want to see growth but we need to achieve stability first and the government’s actions in the last few weeks have clearly not helped.
“The latest data from our Quarterly Economic Survey of our members has shown business confidence is extremely shaky – with urgent concerns around inflation and energy costs at the forefront of minds.
“Businesses and households are now facing uncertainty on whether they will be eligible for any support on energy prices in April and what this support will look like.
“We need support to be targeted towards the most vulnerable households and businesses who are already facing rising costs. The Chamber will work with the government and our members on the review process.
“Based on what we know so far, the commitment to the reduction of National Insurance contributions is just about the only positive news. We’re very concerned about cuts to the essential public services that businesses and households depend on.
“The cost of living crisis and the pressures on business are two sides of the same coin which is why we also need to see an increase to benefits in line with inflation to protect vulnerable households in the North East and prevent further rises in child poverty.
“We cannot wait any longer for government to rise to this enormous challenge of our times.”