Businesses tell us they are desperate for a greater sense of certainty and an easing of the seemingly relentless pressure they find themselves under. After all, confidence is built upon solid foundations and the knowledge that protection will be offered in the harshest of storms.

Since Andy Burnham’s coronation as Prime Minister in July, we have seen a spree of announcements signalling his intentions across a broad range of topics, as well as tangible actions including cutting VAT for hospitality and leisure operators and launching a review of business rates for that sector.

Crucially, he has pledged to stick with the party’s core manifesto pledges and its fiscal rules but has also refused to rule out increases to corporation tax or capital gains tax.

The new Chancellor, John Healey, will deliver his first Budget on October 28 – when we will once again be inviting our strategic partners and patrons to a live viewing event. He and the PM will doubtless spend the coming months assessing their headroom for fiscal manoeuvres and the tax implications of their wider policy ambitions, balanced against the urgent need for economic stability and real growth.

Some clues to their chosen path may well be found when the Labour Party returns to Liverpool for its annual party conference in a few weeks’ time, and all eyes will be on their respective maiden speeches. Chambers of Commerce will be eagerly engaging with policymakers and other stakeholders across the week, ensuring the lived experiences of businesses are clear to those making such crucial decisions.

Business leaders will be keen to see not only positive intent, but also decisive action around a range of topics that are currently hampering their ability to move forward.

The cost of hiring is a huge concern right now, with recent data from British Chambers of Commerce suggesting this has risen by as much as 70% in the past 10 years. Not only does this stifle business growth ambitions, but it also restricts opportunities for younger talent to find employment and get ahead. It simply cannot continue.

Government policy around the national minimum wage and employers’ NICs, compounded by the added complexities of the Employment Rights Act, has clearly played a major role in that struggle, and we will be pressing policymakers to urgently address these detrimental consequences with corrective action.

An economic priority for the new government and the Bank of England will be to keep inflation under control. It has remained stubborn in recent months and currently sits at 3.1%, above the Bank’s target of 2%, leaving it with little opportunity to cut interest rates further, tackle the rising cost of living and reduce the cost of borrowing for businesses and individuals alike.

Effective transport infrastructure underpins an effective regional economy, and the ongoing return of Liverpool City Region bus services to public control is regarded by the PM as an exemplar of how further devolution can have a positive effect.

We welcome greater devolution if it allows more informed, impactful measures to be taken at a place-based level. It has the potential to bring real prosperity to our city region and we wait to hear the detail of plans to give mayors a share of income tax and business rates collected in their city region, plus greater control over housing, transport and skills.

Amid all the challenges and negativity pervading the business experience, there are still substantial opportunities for many. The unleashing of technology-enabled innovation and of export-powered growth should be at the forefront of government strategy to improve the economic outlook.

With policy change comes risk and opportunity. The economic and political headwinds will invariably shift over the coming months, and we are prepared and ready to offer and facilitate advice and support to businesses through the Liverpool Chamber network and our national and international colleagues.

If you have any questions or concerns, get in touch with our membership services team, who will connect you to the right advice.