Reacting to yesterday’s Autumn Statement, David Crew, Managing Director of Somerset Chamber of Commerce, said: “Our recent quarterly economic survey told us that tax rises were the main concern of Somerset businesses and, as expected, yesterdays’ Autumn Statement saw the Chancellor confirm what was widely expected.
“Since the election, many conversations in Somerset have shown me that businesses were already hesitant or struggling to invest in people, plant, premises and products. This increased cost burden through higher employer National Insurance contributions, an increase in the minimum wage and reduced Business Rates Relief will add to the worry.
“Businesses will have to find the additional money from somewhere which could see restructuring, wage freezes, increased prices for consumers and even less investment, at least in the short term, as business leaders let the dust settle on this Budget.
“And all when the country desperately needs business to invest and consumers to keep spending to boost economic growth. 
“We welcome some measures announced to off-set the increased burden, including changes to employment allowances and additional Business Rates bands for Somerset’s hospitality, retail and leisure sectors.
“We also welcome additional investment in education, including additional funding for further education although I’m sure our further education leaders will want to see the detail to tackle some of the challenges and opportunities they are facing. We are working closely with our education partners on the Local Skills Improvement Plan.
“There was commitment, too, to the already announced Industrial Strategy.
“Businesses wanting to expand with financial support would be wise to look at the eight priority areas within the strategy to try and align with them as the Government will be certain to invest in these areas in due course.
“We welcome anything which supports infrastructure projects, additional funding for other public services, including schools and the NHS was also welcome.
“I visited Hinkley Point C this week to see the progress made, reflecting upon half a billion pounds worth of contracts matched to local businesses through our HPC Supply Chain service. As Somerset’s business representative body, we are committed to seeing local businesses benefit from key infrastructure projects in Somerset.
“It is bitterly disappointing to see plans to dual the A358 between the M5 in Taunton and the Southfields roundabout in Ilminster have been scrapped after being labelled “unaffordable and unfunded” by the Chancellor. Somerset Chamber has long championed the need for improved transport links from the M5 to the A303 and beyond and we will continue to do so.
“Somerset needs a commitment to better digital and physical infrastructure, as well as first class health, social care and education systems. Businesses must be given the tools to play their part in the Government’s vision for a reinvigorated economy.
“As always, Somerset Chamber of Commerce will continue to work alongside the county’s key business leaders and organisations to help our members navigate the challenges that lie ahead. By working together we can create a vibrant business community which has the skills, investment and knowledge needed to thrive.
“As part of that commitment, we hosted an online discussion this morning with tax, policy and HR experts to help businesses understand more about the implications of yesterday’s Budget.
“Around 30 businesses took part in the event – with thanks to Mike Cahill of Albert Goodman, Debra Spurway of The HR Dept and Jonny Haseldine of the British Chambers of Commerce for sharing their expertise.
“Being part of Somerset Chamber means you are part of the most well-connected business organisation in our region. It gets you the support and advice you need, faster.
“We would encourage our members to reach out if they need support and recommend those interested in joining Somerset Chamber visit our website here.”
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.
