Budget 2017: Yorkshire SMEs hope for more investment in transport and infrastructure, finds new survey

Yorkshire small and medium sized businesses (SMEs) hope that Chancellor Philip Hammond will use the Autumn Budget to boost investment in transport and infrastructure.

Lloyds Banking Group compiled the views of more than 100 Yorkshire SMEs as part of its nationwide Business in Britain survey, asking them what they want the Government to prioritise in the Budget announcement.

Further investment in transport and infrastructure was cited by 63% of respondents, putting it at the top of their Budget ‘wish list’, alongside reducing red tape 64%.

Among the other announcements Lloyds Banking Group found that SMEs are hoping for include a boost incentives for skills and training (52%); the encouragement of more foreign investment (37%); additional support for overseas trade (47%) and improved broadband access (32%).

Leigh Taylor, regional director for SME Banking at Lloyds Bank Commercial Banking, said: “As businesses seek to boost productivity, many are calling for more to be done to improve Yorkshire’s infrastructure, including its transport and broadband networks; and to boost incentives for skills and training.

“Understandably SMEs are now much more sharply focused on the importance of overseas trade, and are looking for more measures to help attract foreign investment in the region, and to support their plans to export in Europe and beyond.”