Weekly key messages from the British Chambers of Commerce (BCC).
BCC Director General Shevaun Haviland: No More Tax On Business
Thursday was our Global Annual Conference at the QEII Centre in London, our key media moment for the year. The key message from our Director General Shevaun Haviland was that if the Government is serious about growth, it cannot tax business any further. In her speech she unveiled new research showing the impact of the increase in National Insurance Contributions on firms.
The survey of more than 570 businesses – mostly SMEs – by the BCC Insights Unit, found that:
One third of firms (32%) said they have either made staff redundant or are planning to as a direct result of the NICs increase
Breaking the data out, 13% say they have already made staff redundant and 19% say they are actively considering redundancies
In her keynote address, Shevaun said:
“The size and scale of the rise in National Insurance Contributions took businesses by surprise.
“We were unprepared for the huge burden placed upon us, and it led many of us to rethink our growth plans. As a result, our business confidence measures have fallen to their lowest levels since 2022.
“For the government to achieve its Growth Mission, people need to stay in work and businesses need to invest. As always, businesses soak it up and move forward, but they feel like they are wading through treacle.”
Click here to read the full press release.
Click here to read Shevaun's full speech.
Industrial Strategy ‘An Important Milestone’
The Government’s long awaited Industrial Strategy was published last Monday. The 10 year strategy focused on driving investment and growth, particularly in key sectors. Here’s what our Director General Shevaun told journalists:
“Today’s Industrial Strategy is an important milestone towards creating a competitive economy that is fit for the future, with thriving businesses in every region of the UK.
“From start-ups and SMEs to large corporates, firms need a stable environment that enables faster, easier and more certain investment decisions. This strategy is a welcome blueprint for policymakers and business to achieve this.
“Firms have sounded the alarm about uncompetitive energy bills for years. This is welcome support for electricity-intensive businesses that will ease long-term cost pressures.
“Access to a skilled workforce is vital to growth. Employers called for a more flexible Growth and Skills Levy and will be relieved that they can access shorter courses to upskill people in work from next April.
“Plans to improve access to finance - a major barrier for many SMEs – will enable more firms to start, scale and grow.
“We were pleased to convene business and Government across our Chamber network in recent months. Much of what we shared with policymakers, has been heard and reflected in this strategy. There’s more to do and we are ready to support the next steps.
“We encourage businesses to get behind this strategy and champion the UK as the best place to live, work, invest, and do business.”
Click here to read the full press release.