East Midlands firms are calling for safeguards against further tax increases as the Autumn Budget approaches. Concerns focus on corporate taxation and rising operational costs following recent increases in employer National Insurance contributions and the national living wage.
Director of Policy and Insight Richard Blackmore said: “While the Chancellor spoke of investment in various projects – and I welcome pledges to bring an end to youth unemployment and recent transport spending announced for the East Midlands with the Trent Arc – firms need reassurance they are not going to be hit with tax hikes again at the Autumn Budget. Government has already asked a lot of business, it cannot keep doing so under the guise of economic growth.”
Local business leaders emphasise that inflation and corporate taxes remain the top pressures on companies in the region. Recent government spending on infrastructure and employment initiatives has been welcomed, but firms stress that new financial demands must not offset support measures. Stability in tax policy is seen as essential to maintain confidence and investment.
