Yorkshire business group welcomes Budget but warns of challenges ahead
Summarised from 2 outlets · Updated 28 Oct, 15:42 · Archive
West and North Yorkshire Chamber welcomes Budget measures for small businesses but warns significant cost pressures remain unaddressed.
West and North Yorkshire Chamber has welcomed several Budget measures but warned that significant challenges for employers remain unaddressed. The group praised the Government for introducing no new taxes on small and medium-sized enterprises, as it had requested. Victoria Wainwright, chair of the Chamber, said it was 'pleasing that Government has heeded this message'.
The group welcomed a rise in the threshold at which firms begin paying business rates, particularly benefiting those in retail and hospitality. Measures to prevent online marketplaces allowing users to avoid paying VAT also have potential to boost small businesses, Ms Wainwright said. She highlighted £15m in funding for Leeds College of Building as significant for construction skills capacity in the region, and welcomed increased fiscal devolution to regional mayors giving greater decision-making powers.
However, Ms Wainwright warned that 'there still remain significant challenges for employers that were not addressed in this Budget'. She called for next year's Spending Review to focus on reducing the significant cost pressures facing businesses, saying this was necessary 'if the country is to deliver the growth it needs'.
How it is being reported
- Top Yorkshire business group says employers still face 'significant challenges'West and North Yorkshire Chamber welcomes Budget support for small businesses, business rates and skills, but warns significant employer cost pressures remain.The Press (York) · 28 Oct, 14:59
- Top Yorkshire business group says employers still face 'significant challenges'West and North Yorkshire Chamber welcomes Budget support for small businesses, business rates and skills, but warns significant employer cost pressures remain.Gazette & Herald (Malton) · 28 Oct, 14:59
In this story: West and North Yorkshire Chamber · Victoria Wainwright · Leeds College of Building · Yorkshire
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