On 28 October, the Chancellor will stand up and deliver the Autumn Budget. But before then, we have an opportunity to tell Government what Staffordshire businesses need most.
As one of 51 Chambers of Commerce across the UK, we will be submitting our budget submission before the 9.9.26. deadline.
A budget submission is the chance for us to make a representation to HM Treasury on what we see as the key business issues for the Chancellor to consider, as he prepares to deliver his Budget.
We’ve started to develop our submission letter:
Dear Chancellor of the Exchequer,
As we look ahead to the Autumn Budget, Staffordshire Chambers of Commerce urges the Government to prioritise measures which will support business growth and competitiveness, rather than introduce further tax rises.
Research by the British Chambers of Commerce shows that business costs have risen by 70% over the last decade, with a typical mid-sized firm now facing almost £2 million per year in policy-driven costs.
Our latest Quarterly Economic Survey (QES) confirms that labour and energy costs remain the biggest pressures on businesses. Inflation and taxation continue to be the leading concerns for business owners.
Nearly two years on from the increase in employer National Insurance Contributions, businesses are still feeling the impact through reduced investment, slower recruitment and constrained growth plans. We therefore call on Government to avoid any further increases in business taxation and to accelerate meaningful business rates reform that rewards investment and growth.
The hospitality sector remains one of Staffordshire’s most important industries, contributing over £2 billion annually to the local economy. However, hospitality businesses continue to face rising costs, recruitment challenges, and weaker consumer demand.
Our Hospitality Forum believes the sector is facing a critical period and members consistently call for a reduction in VAT from 20% to 10%. Such a measure would help to protect businesses and jobs, improve cash flow, encourage investment and strengthen the UK’s tourism offer.
We ask for continued support as Staffordshire progresses towards devolution. While discussions continue regarding the future structure of local government, it is essential that Staffordshire and Stoke-on-Trent do not fall behind neighbouring Mayoral Combined Authorities.
Skills remains another priority for the region. As the designated Employer Representative Body for the Local Skills Improvement Plan, we have worked closely with employers and education providers to align training with labour market needs. We would strongly welcome a successor to the Local Skills Improvement Fund to build on this progress.
Finally, we ask Government to back exporters and accelerate investment in infrastructure. Greater support for exporters, including reducing trade barriers and strengthening export assistance, would help unlock growth.
Locally, we continue to champion the A50/A500 North Midlands Manufacturing Corridor and improvements to energy infrastructure, including faster and more affordable grid connections. Investment in these projects would unlock jobs, housing, productivity, and long-term economic growth.
We look forward to working with you to ensure Staffordshire businesses have the conditions they need to invest, grow, and succeed.
These are our initial thoughts but what have we missed? Is there a specific call or issue that you would like to see added to our submission? If so, please send me your thoughts by 2.9.26.:
