CHAMBER NEWS

CORNWALL CHAMBER CHIEF EXECUTIVE, KIM CONCHIE, REFLECTS ON THE AUTUMN STATEMENT.

It’s my favourite time of year – absolute chaos for the diary, but the chance to catch up with lots of businesses at their Christmas gatherings.

Recently, I was at Heligan experiencing the wonder of their Night Garden. Despite tough economic conditions, our local businesses continue to pull out all the stops to drive

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TIMES AHEAD

Speaking of tough economic conditions, I should comment on the Autumn statement which as I write this, has just been announced.

I was heartened by the Chancellor following through on his promise to focus on financial stability and fairness with a long term plan to rebuild the UK economy. Whilst it’s a tough statement, it’s tougher on top earners, so I do get the sense that this plan shares the pain.

The top rate tax threshold cut from £150,000 to £125,140 is fair, and the tax cut on business rates is positive, as is the retention of the employment allowance. I like the focus on innovation and I’m a fan of an increase in R&D tax credits for business.

I’m pleased that energy bills are being kept under review – although the pressure is now on the government to pull something out the bag for our businesses come March, otherwise many will be in a very difficult situation during what’s projected to be an 18 month recession.

I like the idea of VAT registration threshold remaining frozen - I personally think more and more businesses should be registered for VAT anyway.

The reduction in the dividend allowance is going to hit small businesses, so that’s not great for Cornwall. I would also like to have seen more on export-led growth: building our reputation back up overseas should be an absolute priority for the government, and our exporters could deliver fantastic growth if they were supported sufficiently.

Another concern I have, is that the government appears to have taken its eye off the ball when it comes to green innovation, as if it needs to sort out the state of the economy first and then will have some head space to consider saving the planet. I would argue that firstly, saving the planet is not something that can be put on hold, and secondly, investment in green innovation would be a very effective way of driving the UK economy.

Finally, it was fantastic that Cornwall was mentioned in relation to advanced discussions on a mayoral devolution deal – I think it is essential for Cornwall to debate this urgently.

SPACEPORT CORNWALL AND A NEW ERA

I can’t sign off without mentioning Spaceport Cornwall.

Congratulations to Melissa Thorpe and the team on securing the CAA licence which will enable flights to start from here in Cornwall.

This month, I was lucky enough to have a tour followed by a dinner, where we heard from Melissa Thorpe (Spaceport Director), Robert Freeman MP, Minister for Space Development, Dan Jarvis from Virgin Orbit, Linda Taylor leader of Cornwall Council and Ian Annett of UKSA.

Over the years, I’ve been involved with so many different organisations which have worked tirelessly trying to broaden the skills offering for our young people here in Cornwall. The opportunities that Spaceport and pioneering renewable solutions in Cornwall like lithium, FLOW and geothermal bring are the muchneeded boost that young people wanting to study STEM subjects at school, need.

Crucially, Cornwall’s reinvention of itself could also end an era of poorly paid jobs being the order of the day.

I really feel like this is the start of something new for Cornwall: a symbol of the Duchy regaining leadership in something - probably for the first time in a century.

I’m absolutely thrilled for Spaceport Cornwall and excited about what the future holds. Cornwall has a rich history in scientific advancement and innovation, and to me it feels as though we’re finally getting our mojo back.

Email: hello@cornwallchamber.co.uk Call: 01209 216006 Online: www.cornwallchamber.co.uk WHY JOIN?

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