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Joint SY Chambers response to the Chancellor’s Spring Statement

Responding to the UK Government’s Spring Statement today, the CEOs of South Yorkshire’s Chambers of Commerce said in a joint statement

‘South Yorkshire businesses will welcome some of the measures announced today, especially those designed to blunt the increase in energy, recruitment, and fuel costs. Our region is a hub for the UK’s logistics sector and the cut in fuel duty will deliver substantial savings this year, safeguarding jobs. But the Spring Statement is notable as much for what it doesn’t say as what it does.

‘It didn’t include the SME energy price cap that we and other Chambers across the UK called for. This would broaden out the support available to businesses facing higher costs.

‘Tax support for business investment in machinery and facilities is welcome – especially in South Yorkshire with our large, advanced manufacturing sector. But investment in people is important too and there’s more the tax system could do to support spending on workplace skills.

‘And there were no further details on how the government might act on its mission to ‘level up’.  As South Yorkshire Chambers, we believe the government can make a big, concrete step towards this by choosing Doncaster as the home for Great British Railways. Our region, with its growing rail industry cluster of 200 companies and 20,000 employees is the perfect location for an investment in this nationally important industry.’

March 23rd, 2022

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