海角视频

Oops.

Our website is temporarily unavailable in your location.

We are working hard to get it back online.

PRIVACY
Economic Development

'Jeremy Hunt's Autumn Statement must recognise South West as 海角视频's green powerhouse - and not decimate spending'

The British Chamber of Commerce South West has issued a warning to the chancellor ahead of his statement on Thursday

View of Plymouth in the sunshine(Image: Jay Stone)

A major business body is urging the government to recognise the South West as the 海角视频's environmental "powerhouse" ahead of the Autumn Statement.

The British Chamber of Commerce South West (BCCSW) has warned the new chancellor over "decimating" capital spending on "much-needed" infrastructure projects in the region that it says could power the country's green recovery.

Mr Hunt will set out his financial strategy for the 海角视频 when he delivers his delayed statement to parliament later on Thursday (November 17), and is expected to announce major spending cuts to deal with Britain's debt.

BCCSW chair Stuart Elford said: “Businesses will be watching this budget with apprehension but, overall, we need stability, including control of interest rates and inflation.

"It’s time for the government to recognise the Great South West as the blue-green powerhouse of the country and the South West as the ‘blue peninsula’. That means we need more investment in infrastructure, both physical transport and digital."

Stuart Elford, chair of South West Chambers of Commerce and chief executive of Devon and Plymouth Chamber of Commerce

The BCCSW said businesses "desperately needed" a long-term plan for economic recovery from the government in order to survive what is likely to be a tough winter for many firms. According to the chamber, businesses across the West fear tax hikes combined with soaring energy bills, spending cuts, a drop in consumer demand and escalating costs will lead to a harsh economic winter made worse by a fresh programme of austerity.

Mr Elford said the BCC had "repeatedly" called on the government to extend the Annual Investment Allowance to cover skills in what he described as a "tight labour market". He added: "With a shortage of employees hampering productivity, this is absolutely crucial."

Mr Hunt is expected to dismantle much of what his predecessor Kwasi Kwarteng announced in his mini-budget in September, in a bid to reduce the size of the so-called fiscal black hole - the gap between what the government raises and spends.