A North West business leader is calling on Chancellor Philip Hammond to use his Autumn Statement to reassure “nervous businesses” following the uncertainty created by the Brexit vote. Andrew Wright reports.
Steve Warren, North West region director of the manufacturers’ organisation EEF made the call after a survey revealed 1 in 4 manufacturing fims were putting investment plans on hold.
According to EEF, the statement should aim to provide better support for growing businesses, extending the scope of research and development tax, which would allow more process innovation by SMEs, and increased funding for export support.
And he is calling for a review of the tax system with the aim of encouraging more employers to pay for private health care.
However while EEF supports the Government’s decision to abandon the budget surplus target, the Chancellor faces a balancing act in avoiding an overly expansive fiscal stimulus programme while the consequences of Brexit remain uncertain.