Autumn Budget brings rates relief but warns of wage pressures

Summarised from 4 outlets · 8 reports · Updated 28 Oct, 17:11 · Archive

The Government raised small business rates relief thresholds and continued fuel duty cuts, but Cumbrian business leaders warn of rising employment costs.

The Government announced that the small business rates relief threshold for retail, hospitality and leisure firms will rise from £12,000 to £18,000, with around 70,000 more businesses set to stop paying business rates. The 5p fuel duty cut will continue until July 2027. Households in council tax bands A to D in England are set to receive £100 towards energy costs.

Suzanne Caldwell, managing director of Cumbria Chamber of Commerce, welcomed the business rates announcement, saying it 'should make a real difference' to affected businesses. However, she warned that the minimum wage increase would be challenging for employers and said measures to reform the energy market would not immediately tackle the high costs facing many firms.

Caldwell expressed concern about plans to give mayors greater financial powers, including a share of business rates. She described the proposed overnight visitor levy for strategic authorities, potentially significant for Cumbria's tourism industry, as 'the wrong tax at the wrong time'.

Graham Lamont, chief executive of accountancy firm Lamont Pridmore, warned that the Budget risks overlooking established businesses despite its focus on innovation and entrepreneurship. He said the lack of major reforms could pose challenges for firms already facing rising costs, and that the rate relief may not fully offset rising employment costs following wage increases.

Lamont noted that while small businesses relying on low-paid staff may benefit from the rates relief, slightly larger businesses employing graduates face little to no support despite needing to increase salaries across the board. He warned that the wage increase could make it more difficult for employers to maintain different pay levels between entry-level and graduate positions.

Tim Farron, Liberal Democrat MP for Westmorland and Lonsdale, accused the Government of pressing ahead with 'cuts and tax hikes to our rural communities'. He criticised the Budget for failing to address pressures on the NHS, council funding, National Insurance and inheritance tax changes affecting farms, while calling for greater protection for households reliant on heating oil. David Mundell, Conservative MP for Dumfriesshire, Clydesdale and Tweeddale, welcomed the fuel duty decision.

How it is being reported

• Budget overlooks established Cumbria businesses, accountant warnsChancellor John Healey’s Autumn Budget has been criticised for overlooking key parts of the business community.Whitehaven News · 28 Oct, 16:33
• Budget overlooks established Cumbria businesses, accountant warnsChancellor John Healey’s Autumn Budget has been criticised for overlooking key parts of the business community.NW Evening Mail · 28 Oct, 16:33
• Budget overlooks established Cumbria businesses, accountant warnsChancellor John Healey’s Autumn Budget has been criticised for overlooking key parts of the business community.Westmorland Gazette · 28 Oct, 16:33
• Budget overlooks established Cumbria businesses, accountant warnsChancellor John Healey’s Autumn Budget has been criticised for overlooking key parts of the business community.Cumberland News · 28 Oct, 16:33
• Cumbria businesses welcome rates relief but warn of Budget pressuresBusiness support, help with energy bills and continued fuel duty relief were among the headline measures in the Budget, but Cumbrian figures have warned of continuing pressures on rural communities.Cumberland News · 28 Oct, 16:00
• Cumbria businesses welcome rates relief but warn of Budget pressuresBusiness support, help with energy bills and continued fuel duty relief were among the headline measures in the Budget, but Cumbrian figures have warned of continuing pressures on rural communities.NW Evening Mail · 28 Oct, 16:00
• Cumbria businesses welcome rates relief but warn of Budget pressuresBusiness support, help with energy bills and continued fuel duty relief were among the headline measures in the Budget, but Cumbrian figures have warned of continuing pressures on rural communities.Westmorland Gazette · 28 Oct, 16:00
• Cumbria businesses welcome rates relief but warn of Budget pressuresBusiness support, help with energy bills and continued fuel duty relief were among the headline measures in the Budget, but Cumbrian figures have warned of continuing pressures on rural communities.Whitehaven News · 28 Oct, 16:00

In this story: Suzanne Caldwell · Cumbria Chamber of Commerce · Graham Lamont · Lamont Pridmore · Tim Farron · David Mundell · Cumbria

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem · Corrections log