West Midlands business leaders call on Chancellor to promote growth
BUSINESS leaders from Greater Birmingham and the Black Country are urging Chancellor George Osborne to use next week’s Autumn Statement to generate growth and rebalance the economy.
Steve Brittan, president of Birmingham Chamber of Commerce, has called for the reform of air passenger duty, measures to promote private sector infrastructure investment and a reduction in corporation tax rates.
In a letter to the Chancellor, the Chamber stated: “Business has faced a difficult environment, both domestically and internationally, since the last Autumn Statement. However, in Greater Birmingham and the wider West Midlands we have risen to the challenge, almost doubling our exports between 2009-2011, with all signs pointing towards continued growth.
“Our businesses have become ever more internationally focused, moving away from a traditional over-reliance on Europe. Indeed China has recently overtaken Germany as the West Midlands’ second most important trading market and our businesses have posted growth in export sales well above the national average.
“However more must be done. Businesses are still reporting being held back by various forms of taxation, a lack of infrastructure and regional connectivity that does not fit the needs of 21st Century businesses.”
The Chamber recognised that the Government cannot afford “wholesale giveaways” but argues that the measures it is proposing would create greater demand, boost growth and thus treasury tax yields.”
Meanwhile the Black Country Chamber of Commerce has also called on the Chancellor to create the optimum conditions to promote growth, enterprise and innovation ahead of next Wednesday’s statement.
Chamber president Paul Bennett has called on George Osborne to create a pro-business environment, to allow firms to grow without the fear of anti-competitive tax levels and red-tape.
He said ‘British manufacturing has clearly suffered in recent decades. However, there is potential for the sector to recover. The Government must do more to help revive the industry, which is a vital source of skills, jobs and economic prosperity in the UK.
“A 2% reduction in Employer’s National Insurance for manufacturing businesses would provide a real incentive for companies to take on more staff.
“For the UK economy to grow, and rebalance, the Government must give greater support to SMEs wishing to enter overseas markets.”
TheBusinessDesk.com has partnered with leading accountancy and advisory firm Ernst & Young to bring you up to the minute news and expert analysis from next week’s Autumn Statement. Look out for our special breaking news email reporting the key measures announced by the Chancellor.
