Chamber urges Chancellor to ‘get Britain thriving, working and trading’
Business leaders in Greater Birmingham have called on the Chancellor to use today’s Comprehensive Spending Review to get Britain “thriving, working and trading”.
Greater Birmingham Chambers of Commerce has set out its key asks ahead of Rachel Reeves’ speech this afternoon.
Investment in regional infrastructure and skills, reforming business rates, easing cost pressures on firms and developing a pipeline of overseas trading opportunities are among the top priorities.
The GBCC’s key asks, in line with the British Chambers of Commerce, are:
Get Britain Thriving
- Invest in regional infrastructure by delivering transport projects and grid connectivity, improving rail capacity and electrifying key sections of the network
- Ease the upfront cost pressure on firms through reform of business rates, with the aim of lowering the multiplier to 45p by the end of this Parliament.
- Provide long-term funding and practical support to help SMEs adopt Artificial Intelligence to boost productivity and growth
Get Britain Working
- Invest in young people to bridge the gap between education and work
- Support a healthier workforce and keep people in jobs by reducing the employer and employee tax on workplace health services
- Involve more employers in skills planning by extending investment in Local Skills Improvement Plans and addressing gaps in training provision.
Get Britain Trading
- Provide global leadership by investing in digital trade
- Give SMEs better support to export and promote their products
- Build upon the success of the International Investment Summit to develop a pipeline of overseas investors into the UK
Raj Kandola (pictured), acting deputy CEO of the GBCC, said: “There have been a number of eye-catching announcements made in the run up to today’s Comprehensive Spending Review that should really help to shift the dial on growth locally.
“The money allocated to the West Midlands mayor to improve transport networks across the city-region will ultimately unlock a wave of private sector investment for the proposed Sports Quarter.
"However, to provide the shot in the arm needed for investor confidence, government must also ensure that previous commitments to long-term infrastructure projects are upheld.
“This week’s labour market data revealed the precarious position the economy remains in – recruitment activity has been knocked by the double whammy of the Employment Rights Bill and the increases in National Insurance which went live in April.
“Ultimately, business confidence remains fragile,and many firms will be deeply concerned about rumours that today's announcements could lead to additional tax increases in the autumn.
"The Chancellor must use today’s statement to set out a plan for growth which drives investment in trade and skills as well as infrastructure - whilst balancing the books."
The GBCC will be releasing in-depth reaction and analysis to the spending review later today.
