Partner Article

Chancellor must back businesses in Budget

This month’s Budget needs to offer more help for North East firms fighting the effects of recession, according to the North East Chamber of Commerce (NECC).

The NECC has published economic data from the first quarter of 2009 showing that more companies are starting to achieve growth despite the global economic downturn.

The data come after NECC called for measures to support employment and investment, develop infrastructure and simplify administration for businesses in its fiscal policy report published in March.

James Ramsbotham, NECC chief executive, said: “While the pace of the recession has slowed somewhat, businesses are still facing significant challenges. The Government needs to do more to create the optimum conditions for businesses to recover and must implement targeted measures to ensure this happens.

“We must not allow successful and viable businesses to go under because they face unnecessary pressures through tax and regulation.

“The data in NECC’s business barometer reveal the need for the Government to address these issues in the upcoming Budget to enable businesses to grow and the economy to recover.”

NECC has called on Government to create targeted fiscal incentives for investment, including strengthening R&D tax credits and reinstating empty property rate relief.

This was posted in Bdaily's Members' News section by Ruth Mitchell .