The upcoming Spring Statement
Gareth Smyth, Chief Executive Officer at Hilton Smythe Group, said: “The Chancellor must look at businesses as well as individuals when making his spring statement, because organisations of all sizes are being impacted by current events.”
“It would be hugely beneficial to companies if Rishi Sunak announced that he was scrapping, or at least postponing, the proposed National Insurance increase. The increase will almost certainly add to the cost-of-living crisis, and employers across the board will need to raise wages to counteract this.”
“Mr Sunak must also remember that the energy crisis is affecting businesses as well as homes, so it would be helpful to offer an energy price cap for businesses and even include businesses in the proposed rebate. The cost of energy is going up so rapidly that many companies may not be able to cope, and will certainly benefit from additional support.”
