Somerset Chamber

Talk to the team 01823 444924

Menu

Tell us your business news

Learn more

 
 

Chamber news

Somerset Chamber CEO welcomes business-friendly Budget

Somerset Chamber of Commerce’s Chief Executive, Stephen Henagulph, has welcomed the Chancellor Rishi Sunak’s first Budget, which unveiled a £30 billion package to help the economy through the Coronavirus outbreak, a raft of business-friendly tax cuts and support packages and investment in infrastructure and low-carbon, clean growth technology.

Mr Henagulph said: “While as always, the devil will be in the detail, at first glance this appears to be a strong Budget for business – business rates will be temporarily axed for retail, hospitality and leisure businesses with a rateable value of under £51,000 and the scheme extended to coverall those in the hospitality industry below the £51,000 threshold, including museums, small hotels, theatres and guest houses.

“That is a huge boost to businesses which have already been struggling with the uncertainty created by Brexit and the wider slowdown of the world economy. The Chancellor’s announcement that small and medium sized businesses will be able to claim back the cost of Statutory Sick Pay as a result of the Coronavirus outbreak is also to be welcomed, as is the move to make it available to those who are self-employed.

“The freeze on alcohol duty will be good news for our regional producers and the increased investment in ‘clean growth’ technology, including research and development and nuclear fusion, is vital to ensure we meet our climate change targets while supporting businesses and helping to grow the economy – as demonstrated by the This is Gravity development near Bridgwater. It was particularly pleasing to hear the Chancellor specifically mention the development of growth hubs in the West of England.

“Earlier this week the Government announced plans to invest £1 billion to bring 4G mobile phone coverage to 95% of the UK by 2025 – the Budget has further supported this with £5 billion to bring gigabit broadband to rural areas. Good connectivity is key to giving Somerset’s businesses a level playing field, enabling them to work remotely and compete with their big city-based competitors.

“The Chamber has long supported the call to dual the entire A303 and A358 from Stonehenge to Taunton and we welcome the Chancellor’s pledge to get the A303 at Stonehenge done – even if he did refer to the A417 north of Swindon as being in the South West.

“Business needs good infrastructure – both physical and digital – and the £27 billion investment in roads, coupled with rail improvements and the new pothole fund, is a huge step in the right direction. Business and the Chamber will now be watching for the detail in the hope the pledges do not get lost in red tape, while also ensuring the additional investment is not swallowed up by the North and South East.”

Connect. Influence. Grow.

Join Somerset Chamber of Commerce to give your business a stronger voice both locally, regionally and nationally. Combined with local town chambers, we represent over 2,000 businesses across Somerset with a direct line to policy-makers at all levels.

Discover the benefitsJoin now