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07:13 on Saturday
26 February 2005

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Cambridgeshire Chamber Budget reaction

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Commenting on the recent Budget John Bridge, Chief Executive, Cambridgeshire Chamber said:

"We welcome the current economic stability but, believe that this Budget is too optimistic in anticipating a major rebalancing of the economy towards investment and exports.

"Whilst touching on the burden of Red Tape on British industry the Chancellor failed to give business any real assurance that progress will be made. This has to change if our companies are to remain competitive when competing on the European and international stage.

Cambridgeshire Chamber of Commerce & Industry

"It is disappointing that after encouraging sole traders to become limited companies The Chancellor has now perceived this as a loophole; our concern is the impact this will have on many smaller companies who have not exploited this in any way.

"We welcome the fact that the rises forecast in most taxes have been avoided. Businesses however will not forget the significant increases of recent years that are all now in effect. Any future increases in taxes would be harmful to business and the economy as a whole.

"We are concerned that this is the borrow now tax later budget."

March 2004




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