Giving her initial reaction to the Autumn Statement, Caroline Williams, Chief Executive of Norfolk Chamber said:
“As we to come to terms with the news that Norfolk has declined significant funding through throwing out the Devolution deal on the table, we welcome much of what is in the Chancellor’s statement. However, at this point we have no idea how successful Norfolk will be in ensuring significant funding to be spent in our county
“Norfolk businesses will benefit from improved infrastructure, so the announced increased resources forlocal and regional transportinfrastructure, broadband, housing and innovation is welcome and will hopefully boost local business confidence. The Chancellor’s strong focus on the growth requirementsof cities and regions will mean that the business voice within a rural county like Norfolk will need to be heard loud and clear. “
Adam Marshall, Director General of the British Chambers of Commerce (BCC), said:
“While businesscommunitieswould have liked Philip Hammond to go even further to support growth,they will recognise that his hands are somewhat tied by lower tax receipts and sharplyhigher borrowing forecasts.The fact that he chose to commitsignificantnewresources to support growth and productivity demonstrates welcome flexibility during a period of uncertainty and change.
“There was very littlesupport in our business communities for further cuts to Corporation Tax, so Philip Hammond was right to stick withexisting plans. However, we would have liked to see more action on the highup-front taxes and costs of doing business in the UK, particularly business rates.
“The government’s decision to move to a single annual set of tax and spending commitments will be welcomed by businesses weary of frequent and sometimes unclear changes of direction.”
