Home > Latest News > Business News > Barnsley & Rotherham Chamber: Response to the Chancellor's Spring Budget statement

Barnsley & Rotherham Chamber: Response to the Chancellor's Spring Budget statement

Stuart

3/7/2024 12:17:11 PM

Business News

3 mins read

Responding to the Chancellor’s Spring Budget statement, Carrie Sudbury, Chief Executive of Barnsley & Rotherham Chamber said:

“Today’s budget clearly recognised that the Government needs to do more to help businesses across the UK to prosper.

Cuts to the headline National Insurance rates, the first increase in the VAT threshold since 2017, as well as new planned incentives to encourage business investment could all play their part in helping to stimulate Britain’s struggling economy.

Further details were published today about the South Yorkshire Investment Zone, with plans announced to expand Rotherham’s Advanced Manufacturing park, as well as new schemes currently in development for Barnsley. The £50m investment will help to attract new high skilled jobs into the region, however, we the Chancellor must recognise that in terms of output and productivity, South Yorkshire’s local economy continues to lag behind the national average and I would have liked to have seen more measures announced to help businesses in the region to overcome the many challenges they are currently facing.

The freezing of alcohol duty, reduction in National Insurance, as well as increasing the VAT threshold are all likely to help some of the region’s smallest businesses, particularly those operating in the hospitality industry, whilst the decision to extend tax deductible incentives to businesses investing in research and development will help many to harness new and emerging technologies.”

 

Other Articles You Might Like

Wendy

5/27/2024 7:26:59 AM

Superhero Day revives comic book memories for joke shop owner
A business which was selling American comic books even before Superman was created will join the attractions on the stre...
Events & Networking 4 min read

Wendy

2/24/2025 3:46:00 PM

HullBID boss promotes partnership approach to a positive future
The head of HullBID praised member businesses for building partnerships based on resilience and renewal in the face of c...
Events & Networking 4 min read

2/3/2025 12:17:11 PM

North East Lincolnshire businesses - Tell us your thoughts!
North East Lincolnshire based businesses are encouraged to complete the new Annual Business Survey launched by North Eas...
Business News 3 min read

Stuart

3/28/2024 9:17:56 AM

Nominees announced for the Northern Business Awards 2024
The Hull & Humber Chamber of Commerce is proud to once again host the 2024 Northern Lincolnshire Business Awards. This y...
Events & Networking 3 min read