Member Article

‘Levelling up’ call made by Midlands Businesses ahead of Budget

Midlands businesses have set out their top ‘levelling up’ priorities, ahead of the Chancellor’s Spring Budget.

Businesses in the region have placed tax cuts and government subsidies for regional businesses, ahead of other key business policy areas such as infrastructure investment, job creation, and improving digital connectivity.

According to BDO LLP’s bi-monthly Rethinking the Economy survey of 500 mid-market businesses, more than a quarter (28%) of mid-sized businesses in the Midlands1 want to see the Government offer tax cuts and subsidies to regional businesses, as part of the so-called ‘levelling-up’ agenda. Nationally, 22% want to see this as a Government priority.

The survey by the accountancy and advisory firm, also showed that improving public health and life expectancy in the region (25%)1 and creating a globally competitive city in the Midlands (25%)1, were other areas businesses believe the Government should focus on in delivering its pledge to level up the regions.

Kyla Bellingall, Regional Managing Partner at BDO in the Midlands, commented: “It’s unsurprising to see that tax cuts and efficiency measures, alongside important economic issues, feature strongly in the list of key levelling up priorities – something that regional businesses are calling for ahead of the Spring Budget later this month.”

Last week, the Levelling Up and Regeneration Bill reached Committee stage in the House of Lords, as it makes its passage through Parliament. The Government has proposed to speed up the process and deliver on its commitment to offer all of England the opportunity to benefit to from a devolution deal by 2030.

Bellingall added: “It’s clear from our latest Rethinking the Economy survey that levelling up remains an important part of the narrative for Midlands businesses and one that the Government must maintain momentum on if it’s to meaningfully engage with regional businesses, communities and local leaders and even the playing field in terms of delivering on its promise of a de-centralised democracy.”

This was posted in Bdaily's Members' News section by Ian Jones .