Giving her full reaction to the Budget, Caroline Williams, Chief Executive of Norfolk Chamber of Commerce said:
On Business Rates:
“We are pleased that those Norfolk businesses hardest-hit Norfolk by this year’s business rates revaluation will see some ease to their burden. We look forward to the money being given to councils in England being used to offer relief to the hardest hit Norfolk businesses.
“However welcome, the measures that mitigate the short-term impact of business rate rises, are little more than a sticking plaster. The radical changes needed to improve the broken business rates system will have to wait for another day.
“The government had an opportunity to re-visit the detail of reform to the appeals system but has not addressed the serious concerns ratepayers have. This will mean that more businesses seeking to correct their erroneous rates bills could lose out.
“In the longer-term, fundamental change is needed, including stripping plant and machinery from rates assessments that does so much to discourage business investment.”
On International Trade:
“There was a noticeable and disappointing absence of any new support for Norfolk exporters, or measures to encourage international trade in this Budget. As we begin the Brexit process, it’s more important than ever to get Norfolk businesses trading their goods and services with the world. The government must do more to incentivise and promote companies to be ambitious and trade to new markets. Norfolk Chamber will continue to do whatever we can to support Norfolk exporters.”
On Digital Infrastructure:
“We look forward to more details on the announcement for full-fibre broadband connection vouchers, as all businesses within our rural areas need faster and more reliable connections. The governments focus must now be on rural areas and existing business parks that still do not have superfast connections. The private sector will invest where there is a demonstrable return on investment and we would urge that the scheme is communicated effectively to the business community and providers.”
On Changes to the Tax System for the Self-Employed:
“Many Norfolk entrepreneurs and sole traders will be concerned to see significant rises to their National Insurance bills over the coming years. Especially when many of them are facing challenging economic conditions. Ministers need to ensure that these business people, who make a significant contribution to the economy, also get the recognition and benefits that correspond to their contribution.”
