Staffordshire Chambers of Commerce react to the budget 2016…
Jane Gratton, Head of Policy at Staffordshire Chambers of Commerce said: “Small firms will find lots to cheer about in this Budget.
“Changes to business rates and lower corporation tax is welcome news and will help our local firms remain competitive.
“The chambers do a lot of work with entrepreneurs and new businesses and the reduction in capital gains tax in particular will help to encourage some of our most dynamic young firms. Also, abolishing Class 2 NICs is a boost for the large number of people across Stoke-on-Trent and Staffordshire who work for themselves.
“We were expecting an increase in fuel duty, so the freeze is good news for businesses. Locally, our transport and distribution sector is increasingly important part of the economy and keeping fuel cost low will help them and the manufacturers they serve.
“The Chancellor announced changes to carbon taxes and we look forward to more details. Hopefully, there will be support for our local manufacturing firms to help them compete internationally and continue to invest here in Staffordshire.
“Lately, businesses have expressed increasing concerns about the difficulty of working with HMRC. The additional investment to make it quicker and easier for business people to deal with the Revenue is welcome but it needs to be geared towards supporting small and medium-sized businesses and making compliance easier.
“As we launch our Digital Staffordshire initiative, the news that the National Infrastructure Commission is to publish a 5G strategy next year is welcomed. Unless we set the bar high, and ensure companies have access to world class digital infrastructure, our dynamic firms will be at a disadvantage.
“Overall, it was good news for businesses.”
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