Autumn Statement puts 'really important focus on growth’ say Shropshire business leaders
Shropshire Chamber of Commerce said the Autumn Statement put a ‘really important focus’ on helping to promote business growth which drives success in the economy.
Chancellor Jeremy Hunt’s headline announcement was a two per cent cut in National Insurance, taking the rate down from 12 per cent to 10 per cent in January for more than 27 million workers.
He also announced changes to National Insurance rates for self-employed business people, and ‘full expensing’ to make many investments fully tax-deductible.
Other headlines included a 9.8 per cent rise in the National Living Wage, a commitment to retain the ‘triple lock’ for pensions, and a 6.7 per cent rise in Universal Credit and other benefits from April.
The Chancellor also said his statement contained 110 measures designed to increase the UK’s productivity.
There was also a £50 million investment pledge over the next two years aimed at increasing the number of apprentices in engineering and “key growth sectors” where there are shortages.
Ruth Ross, Shropshire Chamber’s chief executive, said: “The British Chambers of Commerce asked the Chancellor to focus on key issues that impact business, including planning, full expensing, the energy grid, and business rates.
