Chamber calls on Chancellor to incentivise investment

West & North Yorkshire Chamber of Commerce is calling on the Chancellor to create business stability in this year’s Budget.

The Chamber wants to see Philip Hammond introduce measures that will tackle the up-front costs of doing business, and offer incentives for investment; the business group is also calling for improved mobile network coverage.  The submission to the Chancellor, due to speak to the House of Commons on 22 November, calls for no new input taxes and other significant business costs for the remainder of this parliament, abandoning the annual up-rating of business rates for the next two years, and removing plant and machinery from business rate revaluations.

Nick Garthwaite

Nick Garthwaite

It also adds that a special Brexit annual investment allowance and a commitment to ending ‘not spots’ for voice coverage should be included.    A commitment and practical measures to see Northern Powerhouse happen, and an end to the devolution debacle are also sought by the Chamber.

Bradford Chamber President Nick Garthwaite said:

“It is important right now to lift the spirits of businesses out there who may be unsettled by the uncertain times caused by Brexit negotiations and other world affairs.  This is an opportunity for the Government to re-establish its credentials among the business community.  The period of uncertainty surrounding Brexit needs to be matched with measures that deflect the onslaught of increasing business costs.  I’m sure that many Bradford businesses would welcome the removal of all plant and machinery from the valuation of property for business rate purposes – this would help incentivise investment in post-Brexit Britain.  We also want to see a firm commitment to the idea that was Northern Powerhouse, which has lost traction recently.  We recognise that the Government has its hands full with Brexit and so on, but business must try to continue as normal and so measures that underpin that normality must be brought forward.”

Written on 16th November 2017Mike Cartwright. Published in Economy, Lobbying, News