Budget 2020: Much to Welcome for Suffolk Businesses

Suffolk Chamber of Commerce welcomes yesterday’s budget, with some positive steps for the county’s business community.
With COVID-19 impacting on businesses across our region, Suffolk Chamber has backed those provisions in the Budget which seek to provide the necessary boost to the UK economy and business in these challenging times.
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Suffolk Chamber chief executive, John Dugmore said: “There’s a lot to like about this Budget for our business community here in Suffolk. With businesses being the life blood of the economy, it’s only right that the Government provides additional support during the COVID-19 pandemic and yesterday’s announcements are a solid step to helping the cash flow and resilience for local business.”

On the announcement of a review of business rates, John Dugmore, added: “The suspension of business rates is welcome news to many of Suffolk’s towns and businesses, and whilst short-term relief will help during the COVID-19, many firms will have to wait until the autumn for a further review of the broken business rates system.

“This review must lead to real action to reduce high upfront costs across the board – something we have long campaigned for. Abandoning the goal of fiscal neutrality for the reforms would be an important starting point.”

Reacting to the announcement that the A14 junction at Copdock Mill had been included in the list of possible investment from 2030 onwards, Mark Pendlington, chair of the Suffolk Chamber-led A14 Strategy Board said: “Our popular campaign to upgrade the local stretch of Britain’s Premier Trade Route has been aimed at allowing the county to make an even greater contribution to national and regional prosperity.

“We are, therefore, pleased that there is a commitment to look at the detailed development of Copdock as part of the RIS3 pipeline. However, we will continue to press for improvements to all of the pinch points along the A14 in Suffolk, to ensure that our county benefits as much as other regions included in this Budget.”

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