Northants Chamber of Commerce welcomes Budget

Chief executive Paul Griffiths said: 'We heard the Chancellor present a pre-election Budget which supports businesses for the short and long-term
Chief executive Paul Griffiths said: 'We heard the Chancellor present a pre-election Budget which supports businesses for the short and long-term

Northants Chamber of Commerce has said fuel duty changes announced in today’s Budget will be good for the county.

Chief executive Paul Griffiths said: “We heard the Chancellor present a pre-election Budget which supports businesses for the short and long-term.

“Cancelling the planned fuel duty rise in September will be a huge benefit not only to Northamptonshire’s logistics firms who has chosen to base themselves here because of its excellent transport links but also to the many sole traders and small businesses in the county for whom it can be a significant cost.

“The abolition of Class 2 National Insurance Contributions (NIC) for the self-employed and scrapping of NIC for employing under 21s this April is also good news for employers.

“In delivering the Budget, Mr Osborne confirmed the Government will review the unpopular business rates system – a structure which provides huge discrepancies in bills regardless of turnover. This is long overdue.

“We also heard the Chancellor state the Annual Investment Allowance of £500,000, will not be cut to £25,000 at the end of the year as planned.

“This is welcome news, however it is not clear as to what the new figure will be so we wait to hear more details in the autumn - businesses need certainty to invest in the future.

“The Chancellor has presented a budget which backs the self-employed and small businesses and one that promotes economic security.

“Britain needs a long-term economic plan and the Government or incoming government must stick with it.”