The UK's business groups warned that challenges remain despite the Chancellor
delivering an encouraging Spring Budget.
The British Chambers of Commerce (BCC) said that while the cut to NICs would
'boost jobs' it had failed to 'shift the dial' for business.
Shevaun Haviland, Director General of the BCC, said:
'Following the Autumn Statement this Budget was always set to deliver less
for business, although changes to national insurance will provide some
momentum.
'However, beyond this there were no major announcements to help shift the
dial on conditions for business. Business confidence is improving but the
coming months will remain challenging for many companies. It is vital that
the economy remains front and centre of the campaign to come.'
The Institute of Directors (IoD) branded the Spring Budget 'unremarkable'
for businesses.
Roger Barker, Director of Policy at the IoD, said:
'First and foremost, business was hoping for a Budget that would maintain a
stable and credible policy framework for business. The Chancellor largely
delivered that. However, beyond that, there was little in the announcements
that can be regarded as a game-changer for business.'
Meanwhile, the Association of Independent Professionals and the Self-Employed
(IPSE) said the Chancellor had 'failed to address the substantive issues
holding the self-employed back'.
Andy Chamberlain, Director of Policy at IPSE, said:
'The self-employed make an enormous contribution to our economy and society,
but it could be even greater if the government were to grasp the nettle of
IR35 and address the forthcoming impact of Making Tax Digital for Self
Assessment.'
Internet link: BCC website IoD website IPSE website