Budget 2021: Suffolk and Essex Chambers of Commerce react
Business leaders in the region have been frustrated with Chancellor Rishi Sunak’s budget.
The Suffolk Chamber of Commerce, which represents businesses in the county, said there had not been much going on for Suffolk and East Anglia in general.
Paul Simon, House Policy and Communications Officer, said: âOur initial response is that this is a disappointing budget for our members and the county business community at large.
âWhile welcoming the short-term changes to specific elements of the business rate system, we are surprised that the government appears to have rejected a large-scale overhaul of the same system. We also remain very concerned about the impact of an average inflation of 4% throughout 2022, as it increasingly appears that price increases are being stuck. “
Andy Walker, head of policy and public affairs, said: âThe Chancellor has made many geographic references to how his spending could benefit specific areas. There was little mention of East England and nothing at all of Suffolk.
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“We hope there could be something for us, especially in terms of infrastructure upgrades, so we will look at the details as they are released, especially regarding the rail investment. at Haughley Junction. “
Across the border, Essex Chambers Managing Director Denise Rossiter said: âAs with every budget, there are things we welcome, but also a lot that we would like more details on.
“Tax changes with reductions in air passenger taxes for domestic flights, continued freeze on fuel taxes, simplification of beverage taxes and proposed tonnage tax reforms for the merchant navy are all welcome.
âWe are, however, disappointed that it appears to have moved away from the reform of trade tariffs which our members believe is still one of the biggest obstacles they face. Changes to reassessment periods are of course welcome, as are the proposed investment reliefs to encourage green technology adoption as well as the proposed commercial rate relief for property improvements.
“Like every budget, the devil is in the detail and we will be interested to see what comes out of the ministries in the weeks to come”