'Very little good news' - Shropshire business reacts to Chancellor's Spring Statement
Businesses and trade organisations from around the county expressed a mixture of hope and frustration as the Chancellor delivered her Spring Statement today.
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Chancellor Rachel Reeves outlined a crackdown on disability benefits and government department spending as she set out the latest financial position in the House of Commons this lunchtime (March 26).
The announcement came shortly before an Office for Budgetary Responsibility(OBR) report showed UK growth was set to half from predicted levels of around 2%.
But the OBR has upgraded its predictions for growth for the next four years, with inflation expected to hit 2% government target from 2027.
As the region's businesses reacted to the announcement, Shropshire Chamber of Commerce said there was "very little good news" emerging from the Chancellor’s statement.
“Employers hold the key to unlocking the economic growth that the Government is seeking – but they can’t do this if they feel they are being hammered with extra costs,” said chief executive Ruth Ross.
“The government must focus on reducing the cost pressures for businesses, boosting investment and exports. Firms are realistic, but they are also hurting.”
