Commenting on the Spring Budget announcement

Commenting on the Spring Budget announcement today, Richard Lambert, Chief Executive of NHBF said:

 

‘It can’t be a ‘growth Budget’ with no action on the VAT threshold which is acting as strong disincentive to growth for small and micro sector businesses.

 

The UK can’t be the ‘best place in the world for female entrepreneurs’ with hair & beauty businesses clinging on by their fingertips and a gaping hole in employer support for apprenticeships. As a result of exponential increases in energy and business costs, some employers are now tragically being forced to let go apprentices because the numbers simply don’t add up anymore. So much for supporting the next generation of entry level British talent’.

 

Whilst the investment zones, support for childcare and ‘Returnerships’ may benefit some in the sector, there is little to offer immediate relief to businesses locked into extortionate energy contracts. We call on the Government and Ofgem to facilitate urgent talks with suppliers to at least allow business contract payments over a longer period of time’.