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Top Organisations Attack Chancellor’s Report
Listed under: News
Published: Thursday, March 25, 2010
Two of the country's leading business support groups have criticised Alistair Darling's recent budget speech, claiming it did little to ease retailers concerns about how the Government plans to tackle the UK's deficit this year.
The report, which included a number of new incentives targeted specifically at aiding small companies through the current economic climate, such as scrapping business rates for enterprises with a rateable value of up to £6,000 a year for 12 months, has received a frosty reception from both the British Retail Consortium (BRC) and the London Chamber of Commerce and Industry (LCCI).
Commenting on the Chancellor's failure to reassure retailers about the Government's future plans, the BRC's director, Stephen Robertson, says, “Reviving consumer confidence is the route to growth and jobs. Thank goodness no new tax rises were announced. But customers needed to hear a convincing plan for bringing the public finances under control and the Chancellor offered no reassurance that he understands spending cuts will be the key to tackling the deficit, and not tax rises, which will wreck recovery.
“Knowing there’s pain to come, but not where or how much is damaging demand. This was the Chancellor’s opportunity to remove some uncertainty but, so far, he has left too many blanks,” he adds.
However, Colin Stanbridge, chief executive of the LCCI, is keen to stress that the report was not all bad. “There was some good news for the business community, with measures to cut business rates, increases in public sector contracts for small firms and the doubling of the annual investment allowance. But many company owners will feel that the Government is giving with one hand and taking away with the other, as the Chancellor refused to back down on National Insurance rises, which will hit business hard.”
What did you think of the Chancellor's report? Email your thoughts to .(JavaScript must be enabled to view this email address)
The report, which included a number of new incentives targeted specifically at aiding small companies through the current economic climate, such as scrapping business rates for enterprises with a rateable value of up to £6,000 a year for 12 months, has received a frosty reception from both the British Retail Consortium (BRC) and the London Chamber of Commerce and Industry (LCCI).
Commenting on the Chancellor's failure to reassure retailers about the Government's future plans, the BRC's director, Stephen Robertson, says, “Reviving consumer confidence is the route to growth and jobs. Thank goodness no new tax rises were announced. But customers needed to hear a convincing plan for bringing the public finances under control and the Chancellor offered no reassurance that he understands spending cuts will be the key to tackling the deficit, and not tax rises, which will wreck recovery.
“Knowing there’s pain to come, but not where or how much is damaging demand. This was the Chancellor’s opportunity to remove some uncertainty but, so far, he has left too many blanks,” he adds.
However, Colin Stanbridge, chief executive of the LCCI, is keen to stress that the report was not all bad. “There was some good news for the business community, with measures to cut business rates, increases in public sector contracts for small firms and the doubling of the annual investment allowance. But many company owners will feel that the Government is giving with one hand and taking away with the other, as the Chancellor refused to back down on National Insurance rises, which will hit business hard.”
What did you think of the Chancellor's report? Email your thoughts to .(JavaScript must be enabled to view this email address)
