GM Chamber reaction to budget

Date published: 12/03/2008

Carol Hopkins, local manager for Rochdale at Greater Manchester Chamber, responding to today's budget said: "We appreciate the fact that the Chancellor has recognised the need to maintain stability in the face of economic uncertainty. The last things businesses needed were change, new initiatives and new taxes.

"The postponement of the increase in fuel duty is welcome, but the delay may not be long enough to help businesses. We hope that the Government will keep watching the economic development and set the fuel duty accordingly. Businesses are facing steeply rising costs and they do not need the burden of rising fuel costs.

"We welcome the attempt to simplify the tax system and the fact that the Chancellor has acknowledged small business concern about Capital Gains Tax reform. Small businesses will also appreciate the postponement of the income shifting legislation.

"The promise of support for small businesses is quite vague and no real help in a challenging economic climate. In view of the Government's limited room for manoeuvre, this was all the business community could hope for."