Budget 2018: Jo James at Kent Invicta Chamber welcomes Philip Hammond's announcements

Chancellor Philip Hammond's budget has been welcomed by business leaders in the county.

The Kent Invicta Chamber of Commerce said his statement delivered a budget "that supports investment and growth".

Explains Jo James, the chamber's CEO: "In an atmosphere of unprecedented uncertainty and heightened political noise, the chancellor has demonstrated that he is listening to business concerns by delivering a budget that supports investment and growth.

Chancellor Philip Hammond
Chancellor Philip Hammond

“The chancellor responded directly to the British Chamber of Commerce's calls for bold incentives to turbo-charge business investment, for steps to support high street businesses struggling with business rates, and for measures that cut the cost of apprenticeships for SMEs.

"Philip Hammond has sent important and positive signals to businesses across the UK, many of whom have been wavering on investment and hiring. Crucially, the chancellor has avoided major increases to business tax to fund the government’s spending priorities, which would have undermined the confidence boost to firms from his commitments to supporting enterprise and growth.

Jo James, chief executive of the Kent Invicta Chamber of Commerce, welcomed the autumn budget
Jo James, chief executive of the Kent Invicta Chamber of Commerce, welcomed the autumn budget

“We are delighted the chancellor has listened to the voice of chambers of commerce and has boosted the annual investment allowance to £1million. This will be a huge shot in the arm for businesses across the country, giving many thousands of firms renewed confidence to invest and grow.

“While the Budget's measures were largely positive for business, the final and most important piece of the jigsaw is a comprehensive Brexit deal that gives firms the clarity and precision they need. The pro-business measures announced in the budget will only yield their greatest possible results when paired with a Brexit deal that delivers certainty on the UK’s future terms of trade beyond March 2019.”

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