Yorkshire Chamber boss expresses concern following chancellor’s Spring Statement

Mid Yorkshire Chamber of Commerce managing director Martin Hathaway today expressed concerns regarding yesterday’s Spring Statement 2022, delivered by chancellor of the exchequer, Rishi Sunak MP.

And while the Chamber director’s comments are not without their praise, he made clear the economic strife being faced by Yorkshire businesses, and outlined the support they require in order to make a full recovery from Covid-19.

He said: “This country is currently experiencing a cost-of-doing-business crisis and business owners need urgent support. While any Government assistance is appreciated, doing too little will only serve to harm the economy more and for a longer period of time.

“We stand by our members and the wider British Chambers Network in expressing our disappointment that the planned National Insurance rise is going ahead. We asked the Chancellor to consider postponing this by one year, allowing businesses the space and time to withstand this unprecedented surge in business costs, while many are still recovering from the impact of Covid-19.

However, the chamber director did share his positive sentiments regarding the statement. He continued: “We welcome the fuel duty cut as it is no secret that the price of fuel is becoming a major issue for businesses and households alike, which cannot continue with these escalating rates.

“The temporary business rates relief, including the freezing of the business rates multiplier for another year, the establishment of Help to Grow, the extension of the transitional relief for business rates, and support of small business schemes are all welcome measures that I am sure will do a great deal to ease the insurmountable pressures currently facing businesses.

In a summary of his feelings, Martin concluded: “Many, in particular hospitality, arts and retail - sectors at the cornerstone of our towns and cities here in Yorkshire - are still in the very early stages of recovery following Covid-19.

“Failure to support these businesses will only damage and delay the Government’s levelling up plans. And these are plans that the Halifax, Huddersfield and Wakefield business communities could truly thrive from as soon as possible.”