Member Article

NECC and CBI make their cases ahead of the Budget

The Government needs to do all it can to encourage success among the region’s businesses at its forthcoming Budget statement, according to the North East Chamber of Commerce.

NECC used its submission to the Treasury to stress that stimulating exporting, employment and investment in carbon reduction schemes will drive the North East economy to new heights and should be at the core of Mr Osborne’s statement.

Martyn Pellew, president of the NECC, said: “The time for rhetoric has long passed us by.

“This has to be a budget of action, a budget of economic stimulation, a budget that will deliver the platform that will enable businesses to grow faster and create the wealth and jobs the country desperately needs. .

Meanwhile, the CBI has called on the Chancellor to focus his March Budget on areas that do most to boost economic growth and job creation.

In a letter to George Osborne, the CBI outlines its priorities for the Government’s Growth Review, alongside broader measures to enhance competitiveness.

It calls on the Government to focus on three critical areas: boosting export performance, unleashing domestic investment spending, and removing barriers for high-growth firms.

John Cridland, CBI Director-General, said: “This Budget must demonstrate a relentless focus on growth to help get the UK working again. We need an all-action Budget which boosts exports, investment and jobs.

“The Budget should create the framework for a mittelstand of mid-cap businesses by ensuring they can access the capital they need to expand at home and abroad.

“Mobile talent needs a good reason to do business in the UK, so the Chancellor should signal a road map for reducing the 50p tax rate.”

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