Suffolk Chamber statement on Spring Statement asks
“Spring Statements tend to be somewhat muted and dry affairs, focussing on updated economic forecasts and policy tweaks between Budgets.
“However, this time around, because of the real pain being experienced by otherwise profitable and growing businesses in the county, Suffolk Chamber of Commerce is calling for a radical package of economic measures from the Chancellor.
“With companies facing unprecedented inflationary pressures on their cashflow and investment plans, we are urging Rishi Sunak to delay the planned hike in employer NI contributions and for a year-long package of tax reductions on fuel and energy bills, especially for key sectors such as construction and manufacturing. In addition, the Chancellor must not be afraid to revisit the difficult but key longer term issue of reforming the disruptive and illogical business rates system, which he wrongly shelved, in our opinion, in the autumn.
“In many respects the challenges facing businesses in 2022 are as great as those experienced during the first waves of the pandemic in 2020. We need the Government to be as bold and as supportive now as it was then.”