Suffolk Chamber responds to Chancellor of the Exchequer’s announcements

The Suffolk Chamber of Commerce has released the following statement in response to the Chancellor of the Exchequer’s announcements on Tuesday, 17th March.

“Rishi Sunak’s announcements certainly involve big numbers in order to boost business confidence and support over the medium-term through loan guarantees.

“However, Suffolk Chamber’s members and the wider business community, especially in the most vulnerable sectors such as hospitality and logistics, need significant help with their cashflow NOW to pay their staff and keep trading. This means the Government must implement a moratorium, of at least three months, on those taxes which will eat away at companies’ margins: business rates, commercial rents, NI employer contributions and VAT.

“This would deliver an enormous boost to thousands of businesses. And unlike the administration of loan guarantees, this approach would benefit the business community positively much sooner.”

For further information visit the Suffolk Chamber website