Steven Leigh, Head of Policy and Representation gives reaction to the Budget
Steven Leigh said: “Business wanted a steady, workmanlike Budget, and that’s what we got. The Chancellor listened to Chamber calls to avoid higher business taxes and costs – and managed to lower them in some areas, such as Corporation Tax. He also responded to our calls to reduce Business Rates, particularly for smaller SME’s. Further, he announced extra incentives for entrepreneurship and investment. We are pleased with his commitments to Northern infrastructure projects, and we just hope that they now move rapidly to the construction phase. The extra £700m raised by the increased tax on insurance premiums will be used for Flood Defences, and we are particularly pleased that the funding for projects in the Calder Valley has been confirmed. Overall, when set against lower OBR growth forecasts, the extra infrastructure investment and lower business taxes will help to maintain Business Confidence."
View our quick-reference table which sets out key measures and their business impact here