Chamber responds to Budget announcements


Wednesday 22 November 2017



Budget 2017: Welcome action on business basics – but more to do on bigger picture.


Giving his initial reaction to the Autumn Budget, John Bridge OBE DL, Chief Executive of Cambridgeshire Chambers of Commerce, said: “Cambridgeshire Chambers of Commerce wanted the Chancellor to focus on the basics - rates, roads, and ringtones - and are pleased that they will see some action on all three fronts.

“While more remains to be done to reduce the impact of business rates on investment and growth, the Chancellor’s decisions will lessen the impact of rate rises on hard-pressed firms from next April. The Chamber campaigned hard for a reduction in the relentless rises of this iniquitous tax, and will be pleased that the Chancellor has listened and reduced the burden.

"Commitments to delivering road and rail infrastructure, and working to improve mobile phone signals on key transport corridors, will help support local business productivity.

“Housing growth in the Cambridge-Oxford corridor, and a new station at Addenbrookes, responds directly to key local business needs. The collective, real-world impact of this intervention could be significant.

“Despite the inclusion of a number of announcements that will support business communities in the short term, more will still need to be done over the coming months to lay the groundwork for a successful Brexit transition. Businesses will expect greater boldness from the Chancellor - and more radical support for infrastructure and investment - once a Brexit transition period is secured and the shape of a UK-EU deal becomes clearer.”





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