Shropshire’s ‘battered and bruised’ business community received very little good news from the Chancellor’s spring statement today.

“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 Shropshire Chamber 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.”

From next week, firms face what she described as ‘an unpalatable menu’ of higher national insurance and minimum wage bills, alongside the continued spectre of potential American tariffs.

“The results of our latest quarterly economic survey showed that the fallout from the November budget and all of these other factors is hanging over the Shropshire business community like a black cloud.

“One of the biggest concerns voiced in the survey was April’s upcoming rise in employer National Insurance contributions, and companies across several sectors talked of having to consider redundancies.

“There was nothing in this afternoon’s statement from the Chancellor to recognise or help to alleviate the cost pressures that these changes are going to place on Shropshire businesses over the coming months.”

She added: “With ambitious house-building targets planned across Shropshire and Telford & Wrekin, it was good to hear about significant investment to help train more construction workers. I hope our county will see an appropriate chunk of this money. 

“However, we would have liked to hear plans for a much wider tax roadmap, which included national insurance and business rates, giving firms a clearer idea of when costs will be lowered.

“For the economy to grow, businesses need to thrive. Ahead of the Comprehensive Spending Review, the British Chambers of Commerce will be working closely with ministers to ensure that they create the right environment for firms.”  

Shropshire Chamber is hosting a Post Budget Seminar for members at its Telford offices on Friday March 28, giving the opportunity to hear from local accountancy firm Dyke Yaxley for a morning of business focused analysis.