A special thank you to FEO members Andrew Horncastle, Thomas Martin and Sally Wray for representing Hull’s Private sector with live interviews based on their reaction to the Chancellor’s Budget on 8th March. The interviews were part of a special outside broadcast from Arco’s National Distribtion Centre which fed into Huw Edwards Budget Special on BBC2.
Here is the link below. You will find our interviews at 2.44:42 and then 3.53:48
ANH’s NOTES FROM FEO’s BBC 2 Budget Special for LIVE INTERVIEW ON 8 TH MARCH 2017
The Budget Live reaction
Fairly dull, but a positive, landscape pictured, think inflation numbers are optimistic.
We are seeing rising prices.
The news on growth looks positive and also employment and jobs.
Think putting taxes up on the self-employed is rather short sighted we need more people
starting businesses and should be encouraging them, not taxing them. Giving a hand up.
They are also taking risk, unlike those on PAYE.
We welcome support for those seeking vocational and technical training – trades / skills.
Trade qualifications are so important – once you have a trade nobody can take it away
from you and even If you choose to do something different, you can always fall back on
The rise in business rates is more an issue for the prosperous South, where property
prices have risen, opposed to weaker economies like ours in Hull and the Humber where
they have not.
Transitional relief is a feature – quick to introduce increases, but slow to introduce those
who will receive reductions, his reliefs outlined are welcome
The change in April to the small business rate relief threshold is welcome, rising from
£6,000 - £12,000. This will help a lot of our local small businesses here in the Humber.
Cash for schools – business needs talent of the highest quality, our future is all about
doing our best for our children. Grammar schools are a sensitive subject, but they did
provide a quality education and social mobility in the past and could do so again.
We have great people, great ideas and great companies, transparent laws and we are a
solid sound place to invest in.
The Government should continue to promote growth and support wealth and job
creators. In doing so, his pledge to reduce corporation tax to 17% by 2020 is welcome.
Like his emphasis on R&D, investment in infrastructure broadband, although the £16M
on 5G seemed a little for what could make the UK more efficient.
A strong balanced national economy is the key to solving so many of our other issues.
The North should be a major focus.
There is a fine balance in taxing people between encouraging and discouraging, the
Chancellor should be careful.
He has said many good things – now can this strategy deliver.