Suffolk Chamber's initial statement on the 2025 Spending Review

In general, Suffolk Chamber of Commerce recognises and welcomes the ambitions underpinning the Spending Review in both infrastructure and housing investment and business finance in order to boost longer-term economic growth and business competitiveness.

However, it is also vital for business confidence and investment plans in the immediate term, that the Chancellor rules out any further business taxes in the next Budget on top of those which are beginning to directly impact on companies’ operations and profitability arising from the one last year.

More specifically, we and our business members have campaigned for the Ely and Haughley rail schemes for over a decade and a half - schemes that will generate £5 for every £1 invested. Although the schemes were not explicitly referenced in the Chancellor’s Spending Review statement, we are hopeful that the detail in the Green Book will reveal more information as to the Department for Transport’s plans for these nationally vital schemes over the days and weeks ahead.

We are proud to have played our part in articulating the business voice in support of these schemes as part of a broad-based coalition that has included MPs and council leaders of all parties, chambers of commerce in the East, North and Midlands, Greater Anglia and other rail groups, Transport East and England’s Economic Heartland and will continue to do so until they are finally, fully funded.