Member Article

Businesses need support in the Budget - despite GDP growth

The Chancellor must support business growth in his Budget, according to the Coventry and Warwickshire Chamber of Commerce. New figures revealed that the economy grew by 0.3 per cent in January – which was better than forecast – but Corin Crane, the chief executive of the Chamber, said there is still plenty to fix.

He said: “Over recent weeks we have seen one or two indicators that have shown the economy is performing slightly better than expected, which is positive news, but we cannot get carried away by that. “There are still fundamental issues that need fixing and the Chancellor can make a start with that in his Budget. “We need to see a commitment to long-term investment in infrastructure and a long-term energy plan to help reduce costs and improve productivity.

“And, as I speak to businesses right across the city and county, it is clear we need action in helping firms to recruit. That means making it easier for parents and carers to get back into the workplace, enticing those over-50s who have come out of the labour market altogether to return and making it easier for businesses to recruit overseas workers. “Also, we need a real gear shift in supporting and encouraging businesses to export. Trading overseas has a massive impact on our economic growth and gives individual businesses a much better chance of surviving and expanding. “So, while we welcome any positive economic news, it’s vital that measures are introduced to support long-term, sustained growth for business.”

This was posted in Bdaily's Members' News section by Matt Joyce .