Chamber responds to the Chancellor’s pre-Budget statement

“In our Budget 2025 submission to the Chancellor on behalf of North East business, we were clear: no new taxes on business. Today’s speech appears to meet this key test, but questions remain about exactly how the Chancellor will raise the revenue for growth she has acknowledged as the priority for this Autumn Budget.

“The Chancellor emphasised the need to balance fairness and growth. We agree – and she must use the Budget to get the balance right: unlocking locally led investment, targeting skills and employment, and strengthening the conditions for international trade, as outlined in our Budget submission.

“It was positive to see the Chancellor reiterate that the Budget needs to underpin and increase business confidence. This is at the heart of the long-term growth businesses, employers, and people across our region want. Today’s speech provided the signals; we look forward to the Budget, on Wednesday 26 November, providing the detail we all want to see.”