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Government urged by Chamber to give businesses support to grow

Business leaders in Coventry and Warwickshire are urging the Government to help firms grow as it considers its future spending plans.

The Coventry and Warwickshire Chamber of Commerce has been working with the British Chambers of Commerce (BCC) on its submission to His Majesty’s Treasury for the Comprehensive Spending Review.

Government urged by Chamber to give businesses support to grow

It contains 49 recommendations on ways to grow the economy that the Government should support.

The top asks are based on getting Britain thriving, working and trading to support growth.
      
On getting Britain thriving, the Chamber is calling for the Government to invest in regional infrastructure by delivering transport projects and grid connectivity, improving rail capacity and electrifying key sections of the network.

It also wants to ease the up-front cost pressure on firms through reform of business rates, with the aim of lowering the multiplier to 45p by the end of this Parliament. 

Business leaders also want to see the Government provide long-term funding and practical support to help SMEs adopt AI to boost productivity and growth.

When it comes to getting Britain working, the Chamber is calling for the Government to invest in young people to bridge the gap between education and work, as well as supporting a healthier workforce and keeping people in jobs by reducing the employer and employee tax on workplace health services. 
 
Businesses want to see more employers involved in skills planning by extending investment in Local Skills Improvement Plans and addressing gaps in training provision.
 
And, on the topic of getting Britain trading, the Chamber wants to see the UK provide global leadership by investing in digital trade and to give SMEs better support to export and promote their products.

The Chamber is also calling on Government to build upon the success of the International Investment Summit to develop a pipeline of overseas investors into the UK.

The recommendations were shaped after extensive consultation with Coventry and Warwickshire Chamber of Commerce, the 50 other Chambers across the UK and the BCC’s Business Council.

They also factored in research by the BCC’s Insights Unit, involving more than 5,000 businesses in the Chamber Network, on the key issues holding back growth.
 
Corin Crane, chief executive of the Coventry and Warwickshire Chamber of Commerce, said: “When we come together as businesses to speak with one voice on the issues that really matter, it is really powerful. This is why we ensure we listen to members across Coventry and Warwickshire all the time.

“It means we can make the case, alongside colleagues within the BCC, to the Government when major announcements such as the Comprehensive Spending Review come around.

“Businesses are ready to meet the Government’s challenge to grow the economy and that is why we are setting out what companies need to break down the barriers to growth.”

Shevaun Haviland, Director General of the British Chambers of Commerce, said: “The decisions Government takes in its spending review will have a huge impact on the shape of our economy for years to come. This is an exam question it cannot afford to get wrong.

“But the answer is very simple. It’s business. While we are currently forecasting that the economy is set to grow in 2025, it is largely due to spending in the public sector. 

“Without private sector investment to match it, that is not sustainable for the long-term. If the Government wants to get the strong and consistent economic growth it needs, it must look at three key areas to support firms.

“That means promoting consistent investment in people, in infrastructure and in trade. Government can’t assume business can continue to carry the load. It must give them the support they need to thrive, in an increasingly competitive global market, then the future can be bright.”

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