A challenging budget for businesses

Reacting to the Chancellor’s Autumn Budget, Sarah Bailey, CEO at West Cheshire & North Wales Chamber of Commerce, said:

“This is a challenging budget for businesses across North Wales and West Cheshire, but the Chancellor has offered some hope by pledging a future path toward economic stability.

“While the measures to support smaller firms are welcome, the increase in employer National Insurance Contributions will still add financial strain.

Coupled with a 6.7% rise in the National Living Wage, many companies in the region could find it harder to invest and recruit in the immediate future.

“However, the Chancellor has attempted to balance this initial impact by laying out a longer-term framework aimed at economic stability. Plans to boost infrastructure spending, offer targeted business rates relief, and provide additional support for small enterprises will help cushion the tax increases. It’s also positive to see the permanent establishment of full expensing, the annual investment allowance, and R&D relief, which will support growth and innovation.

“But much now depends on the government’s next steps. The benefits described by the Chancellor are not guaranteed and will rely on the effectiveness of industrial and trade strategies, as well as robust devolution and targeted public infrastructure investment to energize regional supply chains.

“To foster confidence among North Wales and West Cheshire businesses, swift, decisive, and inclusive action is essential to unlock the investments that our economy urgently needs.”

You can view a breakdown of the announcements in the Budget and the wins from the BCC Network on the Chamber website.