“The decision on Corporation Tax is a disappointing one: less probably on its own terms, but more because it adds to the general uncertainty within which Suffolk businesses are trying to develop, invest and grow.

“Business confidence more generally is increasingly under pressure. The core business indicators for Suffolk firms, according to our latest quarterly survey, are at their lowest since the start of the COVID19 pandemic. Suffolk Chamber is calling on the Government to detail its full economic and fiscal programme at the earliest opportunity and confirm that no further component parts of the ‘fiscal event’ will be junked.

“That certainly means not re-reversing the NI employer contributions decision. But crucially, the Government needs to also grasp the nettle and conduct the promised comprehensive review into the failing business rates system. It must also mean embarking on a massive infrastructure investment programme, including improvements to the east/west rail line in and out of the county and improvements to the A14 and the wider strategic road network.”