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Bedfordshire Chamber Of Commerce


Help on


the road to recovery


T ere was much to welcome in last month’s Budget for business communities across the UK. T e Chancellor listened and acted on many of the Chamber network calls for immediate support to help companies reach the fi nishing line of what has become a gruelling marathon and to begin their road to recovery. At the time of writing this we are still waiting on the detail that will


Justin Richardson CEO


Bedfordshire Chamber Of Commerce


come on Tax Day, March 23, but it provided companies with some reassurance and has given us all the opportunity to plan for restarting and rebuilding for a better future. There were some big wins for the Chamber network in the announcement. We have tirelessly campaigned for a number of initiatives, including the extension of the Coronavirus Job Retention Scheme, which we argued needed to be in place until a full reopening of the economy was possible, to increasing cash grant support and extending business rates relief. These and many more were all successfully announced in the Chancellor’s Budget albeit in some cases not to the extent I would have liked to have seen.


A couple of surprises were also thrown into


the mix. A super-deduction investment incentive, where companies can claim 130% on qualifying capital expenditure for the next two years, and a Help to Grow scheme encouraging businesses to develop their leadership, digital skills and capabilities were announced. T ey are bold and much-needed incentives and it’s clear from this that the Government wants companies to do their share of rebuilding through increased investment and greater productivity. Despite the widening of the self-employment income support scheme (SEISS), it was disappointing to see that the Chancellor didn’t take the opportunity to plug the gap for those businesses and individuals who have, through no fault of their own, been unable to access any palpable government support. As previously stated, I felt the Budget would have been an opportune moment to address this. Whilst there is, of course, a recognition that


our unprecedented levels of debt will need to be repaid and no business will relish the prospect of paying higher rates of Corporation Tax in the future,


18


ALL THINGS BUSINESS


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