“There are positives and negatives in the Budget for Essex. The key positive is that the Chancellor has broadly accepted the demand for no new taxes on business, bar some marginal changes which will have an impact. This offers a degree of stability and certainty for businesses which have been navigating very choppy economic waters.
“Likewise there is some welcome news on transport and infrastructure. The announcement of the final £891m of public funding for the Lower Thames Crossing can be particularly transformative for our region and we look forward to the opportunities this can bring.
“Business will welcome support for youth employment, stamp duty relief, protection for capital spending, a reduction in business rates multipliers and some investment tax breaks.
“But they will be concerned about salary sacrifice changes, mandatory wage increases, and retention of the energy profits levy, which will maintain cost pressures.
“Also on the downside, we have seen UK-wide business support funding of almost £1bn axed and replaced with a system of piecemeal support which favours select urban regions. That risks further regional inequality and damage to rural economies. The East of England, including Essex, is not among the favoured regions.
“Overall we expect most businesses will weather this new financial landscape but they are still being squeezed by rising costs and many will be disappointed that this Budget did not provide a more compelling blueprint to deliver transformational growth.”
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27.11.2025
