“Big Ambitions” lacking in technical budget

Members react to "Emergency" budget

Posted by Jenny Stewart

Chief Executive of Liverpool & Sefton Chambers of Commerce

Wed 08th, Jul

Members of Liverpool & Sefton Chambers of Commerce, who watched the Chancellor outline the first Conservative budget in 18 years, had mixed views on what he had to say to the local business community.

Whilst most of the key elements had already been well trailed in the media, the Chancellor still managed to surprise the House with his announcement to introduce a new national living wage for all workers aged over 25, starting at £7.20 an hour from April 2016 and set to reach £9 by 2020 - giving an estimated 2.5 million people an average £5,000 rise over five years.

Those watching the budget unfold at the lunchtime event hosted by Hill Dickinson, generally welcomed the overall direction of the proposals to support inward investment particularly the cut in corporation tax to 19% in 2017 and 18% in 2020.

There was also agreement around proposals to encourage more people into employment, although some uncertainty at this stage as to how those jobs would be created and what additional support there might be for business growth. Details behind the Chancellor’s pledge to create 3m new apprenticeships whilst instigating an apprenticeship levy were also queried although sentiment towards increasing the quality of such qualifications were welcomed.

The Chancellor once again reinforced his support for the “Northern Powerhouse”, announcing further investment (£30 million) including the creation of an “Oyster” style smart card for the northern regions, but with no mention of any rail investment in the North, including HS2 or HS3, there were some concerns as to how the need for greater connectivity would be achieved.

Summing up, Jenny Stewart, CEO of the Chamber, said that whilst the Chancellor’s overall message around reducing the deficit, improving the economy and improving our skill base was a positive one, the lack of detail around investment in infrastructure, manufacturing industry and exports was disappointing.

“Going forward there are some fantastic opportunities for this city region if we play to our strengths, building a strong brand and working together to create a long term vision for the next 25 years”.

 

Were your expectations met by the Chancellor? Share your thoughts by contacting policy@liverpoolchamber.org.uk

Read More
Leave a comment

Comments...

Posted by ushen

All your favorite tunes and also style will obtain saved and also Pandora Radio. pandora login Connect the net at your PC device simply comply with the web connectivity procedure.

Posted by bams

Nice post. I learn something more challenging on distinct blogs everyday. It will always be stimulating to read content off their writers and practice a little something from their store. I’d choose to use some with all the content in my small weblog whether you do not mind. Natually I’ll provide a link on your own internet weblog. Many thanks sharing. Cara Memperbesar Penis Cara Memperbesar Alat Vital Cara Memperpanjang Penis Cara Memperpanjang Alat Vital Cara Memperbesar Alat Vital Dengan Tangan Jasa SEO Jasa Pembuatan Website Jasa SEO Jasa Pembuatan Website Safe Link Converter

Post a comment

 
   
 

5 minutes with...

Fri 06th, Apr

Lee Stanley, Head of Business Development at the Chamber

5 Minutes With...

Tue 03rd, Apr

Simon Evans, Partner at Lewis Evans

Newsletter - Voice of the Chamber: Neil Ashbridge

Tue 03rd, Apr

As Chair of Liverpool & Sefton Chambers of Commerce, I am delighted to have the opportunity to be one of the first contributors to the Voice of Business newsletter.