Autumn Statement 2023

The Chancellor, Jeremy Hunt, has announced sweeping tax cuts for businesses and workers in an “autumn statement for growth”.

Ian Girling, chief executive of Dorset Chamber, said: “At last the Chancellor has taken some pro-active steps to support business in what has been, and continues to be, an incredibly challenging economic climate.

“His Autumn Statement included measures which will be welcomed in many quarters in Dorset, although some may feel he has not gone far enough.

“The extended freeze on the small business multiplier for business rates, and the extension of the 75% discount for hospitality, retail and leisure will be a comfort to many although fundamental reform is still desperately needed.

“Incentives to encourage some firms to clean up their act on late payments are encouraging but more needs to be done to tackle this scourge affecting business.

“Some businesses may have concerns about the increase in the National Living Wage at a time when costs are already high while I hope other measures to improve productivity, simplify tax relief, support growth and innovation, boost the labour market and put more money in people’s pockets will be felt in Dorset.

“It was a business heavy Autumn Statement with 110 measures, so the devil will clearly be in the detail and we must make sure that Dorset makes the most of every single opportunity it offers.”

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