Chamber Calls On Chancellor For Business Boost

Date published: 01 March 2012

Greater Manchester Chamber of Commerce has written to the Chancellor ahead of next month’s Budget setting out its ideas for boosting the economy.

The Chamber says its proposals are cost-effective, achievable and will support growth in the country’s regions.

In the letter, the Chamber calls on the Chancellor to:

• Abandon the 5.6% increase in business rates planned for April.
• Increase the money available through the Regional Growth Fund by £1.5 billion.
• Commit the remaining £465 million needed to deliver the Northern Hub rail project in full.
• Abandon the planned decrease in the Annual Investment Allowance from £100,000 to £25,000.

Dr Brian Sloan, Chief Economist at Greater Manchester Chamber of Commerce, said: “Since the Coalition Government came to power the Chancellor has made many announcements to address the country’s debt and deficit whilst supporting growth.

“Some of those initiatives aimed at addressing unemployment and growth have been seen as tinkering and have not instilled the confidence to stimulate the much needed business investment, without which the country cannot rebalance.

“The Chancellor has announced a programme of changes to corporation tax and today we have put forward four measures that are simple and cost effective and that will stimulate growth and the much needed rebalancing towards the regions.”

Dr Sloan and Chamber Chief Executive Clive Memmott will be part of a panel of experts at a Budget Live event next month. The other panellists are Mark Mills, Chairman of HURST Accountants and several other well-known North West businesses, and Ron Walker, founder of financial planning business, Clarion PLC.

The Budget Live event, which is being jointly hosted by the Chamber and HURST accountants, will take place on Wednesday 21 March between 11.45am and 2pm at The Point at Lancashire County Cricket Club. To book a place email rebecca.rawcliffe@hurst.co.uk