The Autumn Budget 2024: The budget is not a major boost for Suffolk

Whilst some of the tax rises in today's budget were not as bad as some had expected, the increase in employers' national insurance contributions will hit Suffolk businesses hard and do little to deliver the economic growth that the government wants. On top of this whilst the Chancellor spoke about the need to invest, at the moment transport investment will be in rail projects in the North - not in long overdue improvements to key rail junctions at Haughley and Ely. Improvements that will not only boost the Suffolk economy but also the UK economy, as the junctions will be able to handle more freight from Felixstowe.

There was some good news in the budget. Confirmation that there will be a new West Suffolk Hospital and a drop in duty on draught beers and ciders. A measure that will be welcomed by Suffolk's well know breweries and cidermakers. Also, ongoing business rates relief for retail, leisure and hospitality properties. Plus, although not in the Chancellor's speech but part of the budget, a discussion paper on business rates reform.

Toby Warren, Suffolk Chamber of Commerce's, Head of Policy commented 'Suffolk businesses had braced themselves for tax rises but they will still be hit hard. It is disappointing that the bad news was not balanced with more good news for the Suffolk economy. The Chancellor announced that the government will be investing £100 billion in capital projects over the next five years. We must make sure the government realises the benefits to the UK as a whole of investing some of those billions in Suffolk.'