Latest news with #BritishChambers
Times
a day ago
- Business
- Times
Industrial and trade strategies get cautious welcome from BCC
The leaders of regional chambers of commerce have given the government's industrial and trade strategies a tentative thumbs up. 'We'd be foolish not to feel more confident, but we have to step in with caution,' said Dawn Whitemore, chief executive of East Midlands Chamber, speaking at the British Chambers of Commerce's annual conference in London on Thursday. Sir Keir Starmer used the event as a platform to announce the government's trade strategy, which leverages the three trade deals struck so far with India, the United States and Europe. It followed the release of the government's long-awaited industrial strategy on Monday. Whitemore said the three deals 'are a start … But when you look at some of the details, it's not so great for our country. With all due respect, it's the start of something, but we haven't actually secured what I would hope for as a business.' During his speech, Starmer said the trade strategy would expand the capacity of the government's export credit agency, UK Export Finance, by £20 billion, and assured the audience of business leaders that the government would reduce the frictions that have made trading overseas more difficult. Ruth Ross, chief executive of Shropshire Chamber of Commerce, said the publication of the trade strategy meant she and her members knew what they're 'playing with' now. However, 'it doesn't mean there's any less red tape', she added. Ross said: 'Businesses are struggling. You can't keep throwing costs at people and expect them to make money from it. We've got some of our members looking at all their costs and wondering if it's actually cheaper to make their products in another country, to then bring them back. That can't be right, can it?' Other regional chambers were more positive about the impact of the government's plans. Colin Marr, chief executive of the Inverness Chamber of Commerce, said both strategies were 'going in the right direction' and that the government had produced something 'sensible, relatively accountable and set relatively good targets'. Marr said that there was not enough information yet about how businesses would navigate the trade strategy, but that chambers of commerce would be there to help when they did. 'I can be very complimentary about the industrial strategy and the trade strategy, but the national insurance burden is enormous. What we're seeing now is people beginning to slow down employment — and that's not good for anyone,' Marr said. The prime minister acknowledged the burdens that have been placed on businesses following the last budget's increase in taxes and costs. • 'Freeze taxes' says business lobby after national insurance hit In her speech, Shevaun Haviland, director general of the British Chambers of Commerce, warned the government that taxing businesses further could endanger its 'growth mission', after research conducted by the lobby group showed businesses have made or plan to make redundancies due to national insurance increases. Lucy Druesne, deputy chief executive of Kent Invicta Chambers of Commerce, picked up on this point, saying that despite some 'good signs' it was vital that 'businesses don't pay the bill again'.
Bloomberg
2 days ago
- Business
- Bloomberg
Julian Harris: Starmer Faces Business Chiefs as Tax Rise Bites
The British Chambers of Commerce told us a few weeks ago that a 'senior cabinet minister' would be addressing its annual conference, leading me to assume this was code for Rachel Reeves. Instead, it was the Prime Minister himself who rocked up at the QEII Centre in Westminster this morning to face a crowd of not-entirely-impressed business leaders. Reeves, meanwhile, made sure she was 130 miles away in Tutbury, which Google Maps tells me is a place in Staffordshire.
The Independent
19-05-2025
- Business
- The Independent
UK-EU deal hailed as milestone but is ‘just the beginning', says industry
The UK's new deal with the EU marks a 'turning point' that will boost UK businesses and help ease cost pressures for hospitality firms, industry groups have said. The new deal was widely welcomed across business sectors for helping cut red tape and reducing checks on food exports, while also freeing up the movement of young people to help with staffing and hiring. But trade unions and businesses also said it was 'just the beginning', with further details to be ironed out. Economists said they were also doubtful that it would be a significant shot in the arm for the economy or the UK's public finances. Shevaun Haviland, director general of the British Chambers of Commerce (BCC), said: 'Today's summit marks a turning point in UK/EU relations which puts our trade relationship at the forefront of our partnership going forward. 'For four years, businesses have fought hard to sustain sales to the EU in the face of a rising tide of costs and paperwork which has severely dented their competitiveness. 'A permanent deal to remove unnecessary checks on food and drink exports in both directions is a huge boost; it will cut costs, reduce waste and increase sales.' She added: 'This summit also saw encouraging movement on other issues that have long been a thorn in the side of many firms. 'A commitment to focus on securing a youth mobility scheme and linking our emission trading schemes will make life simpler and less costly for many businesses.' UKHospitality said the deal would 'help to further increase access to high-quality, affordable food and drink for business and consumers alike'. Kate Nicholls, chief executive of UKHospitality, also cheered the plans to allow a youth experience scheme. 'Not only does it provide economic benefits, but it also provides new opportunities for critical cultural exchange, which ultimately delivers richer experiences for customers,' she said. 'I urge both parties to pursue a model with maximum flexibility, and mirroring existing schemes with Australia and New Zealand is a sensible approach.' But the Institute of Directors (IoD) said while the reset of relations with the EU 'heralds a new era of collaboration', further work was needed. Emma Rowland, trade policy adviser at IoD, said: 'We recognise that this is just the beginning. 'With elements not yet set in stone, there will be further effort required to ensure that what has been promised is delivered for the benefit of the UK economy, the business environment and wider British society.' The Trades Union Congress (TUC) added: 'Governments on both sides of the channel must continue with an ambitious approach, including a shared commitment to strong employment rights and collective bargaining.' James Smith, economist at ING, said the deal was a 'no game-changer' for the economy. He said: 'Monday's European deal with Britain is a positive first step, but it won't massively boost the economy, nor help avoid tax rises in the autumn. 'Further regulatory alignment might do that and would help boost sterling. 'But existing UK and EU red lines make that a daunting task.'
