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Essex Chambers' statement on today's Budget

March 11, 2020

Commenting on today’s Budget, Denise Rossiter, Chief Executive of Essex Chambers of Commerce said 

“The Chancellor, who has only been in office for a short time, is having to present his budget against the backdrop of the developing Coronavirus outbreak whose eventual impact on the economy we do not fully know. We welcome the support he has offered businesses and individuals who may be impacted by this and in particular our smaller businesses who make up much of the economy of Essex”

“We were pleased to hear that he plans to launch a proper review of business rates later in the year as this is an issue we constantly hear complaints about from our members. In the meantime the abolition of business rates entirely this year for certain businesses is very welcome and will hopefully help to sustain the local high street in the county”

“We were also pleased to see the commitment to the Lower Thames Crossing which will be of real benefit to businesses not just in south Essex but across the county and beyond. This along with improvements to the A12 between Chelmsford and Marks Tey will help keep Essex moving but there is still the need for further investment in our road and rail networks”

“We were disappointed though by the inference in several of his announcements that the East, South East and London are doing fine and that support is needed elsewhere. We recognise the Government’s levelling up agenda but there are major problems in parts of our region and we need support as much as other parts of the country. At the moment we are net contributors to the Treasury but that could change and the Government needs to be careful not to take our economic success for granted” 

 

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