Chief Executive, Carrie Sudbury, reflects on the Chancellor’s Budget

Commenting on the Chancellor’s Budget statement today, Carrie Sudbury, Chief Executive of Barnsley & Rotherham Chamber said:

“Today’s budget will see the highest level of tax rises imposed by a Government in a generation. The increase in National Insurance contributions will leave many businesses facing difficult decisions, particularly when it comes to employee recruitment and retention.

Raising National Insurance on employers isn’t just a tax on working people by stealth, it’s a tax on innovation, entrepreneurship and aspiration. I would have liked to have seen the Chancellor do more to address the inherent regional inequality Britain faces, particularly when it comes to tackling the skills and productivity challenges many businesses across South Yorkshire faces.   

I am pleased to see that some provision has been made to protect the millions of SME businesses and self-employed workers across the UK. However, for many companies, saddled with the double whammy of an additional tax bill of £615 per employee, coupled with inflationary salary increases, it is highly likely that such costs will be passed directly in the form of price rises.

I also welcome the Chancellor’s decision to end the controversial mineworker’s investment reserve fund, which will give a much needed boost to pensions of those who spent their working lives underground. At a time when the Government cancelled the winter fuel allowance, the move will provide a much needed boost for many families across the region.

In many ways this was a traditional labour budget, with ambitious plans to improve infrastructure, healthcare and education, something that will provide long-term benefits, it is now vital for the Government to deliver on its promises and create an infrastructure that will bring about tangible differences that will improve the lives of everyone.”