One of Yorkshire's leading business groups has warned 'significant challenges' facing employers have not been addressed in today's budget.
But the West and North Yorkshire Chamber has welcomed no extra business taxes, help for small businesses paying business rates and measures to increase skills in the region.
Victoria Wainwright, chair of West & North Yorkshire Chamber of Commerce, said: “As a Chamber of Commerce we were adamant prior to the Budget that there should be no new taxes on SMEs and it is pleasing that Government has heeded this message.
“The rise in the threshold that firms begin paying Business Rates is to be welcomed, especially for those working in retail and hospitality. Measures to prevent online marketplaces allowing users of their platforms to avoid paying VAT also have the potential to boost small businesses.”
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Ms Wainwright continued: “Similarly, increased fiscal devolution to our mayors will mean greater decision-making powers in our communities. The £15m in funding for Leeds College of Building will also make a huge difference to construction skill capacity for the whole region.”
But she warned: “However, there still remain significant challenges for employers that were not addressed in this Budget. Next year's Spending Review needs to focus on reducing the significant cost pressures facing businesses if the country is to deliver the growth it needs.”
The Press has approached other political and business leaders for comment.
We will post them as they come in.
What did you think of the budget? What did you like or dislike? What could or should the Chancellor have announced instead? Does the budget make you more or less likely to vote Labour? Who would you vote for instead and why? Please share your thoughts in the comments below.
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