Suffolk Chamber's initial reaction to Budget 2021
“At first glance, Suffolk Chamber is impressed with how this Budget will support both the short-term recovery and the long-term renewal of our local and regional economy.
“We are pleased that the Chancellor has delivered the vast majority of our immediate requests and those of our members, including an extension to the furlough, self-employed, business rates relief and VAT deferment schemes. We are also relieved that the increases in Corporation Tax will not take effect until 2023. Lobbying by Suffolk Chamber and other chambers across the country has clearly and demonstrably worked.
“We are also delighted that the Freeport East bid is one of eight to have received Government backing today. From the outset, we have supported this initiative, as we believe it will deliver sustainable increases in both local and national jobs, productivity and skills and will make a major contribution in helping us deliver our associated infrastructure campaigns, including improvements to the A14 in Suffolk and the East/West rail link between Cambridge and Ipswich.
“Equally, we hope that Suffolk will be towards the front of the queue in accessing the new Infrastructure Fund for green and net-zero projects: we will certainly be pushing our MPs, local councils and others to ensure that this is the case.
“Of course, we will now look in depth at the details underneath these encouraging headlines, not least the announcements due on 23 March regarding future tax increases. But for now, Suffolk Chamber can say that we are impressed with this Budget so far.”