Post Budget Business Breakfast to be held in Harrogate with town's MP

“Many of our members will be disappointed that there was no relief from the recent increases in employer National Insurance”

Harrogate District Chamber of Commerce is to hold a Post Budget Breakfast with the town’s MP to help business owners untangle its likely impact on their futures.

"Many of our members will be disappointed that there was no relief from increases in employer National Insurance" - Martin Mann, Chief Executive of Harrogate District Chamber of Commerce. | Submitted

placeholder image — "Many of our members will be disappointed that there was no relief from increases in employer National Insurance" - Martin Mann, Chief Executive of Harrogate District Chamber of Commerce. | Submitted

Taking place at The Old Swan Hotel tomorrow, Friday, October 30 at 8.30am, the event with Harrogate and Knaresborough MP Tom Gordon follows yesterday’s unveiling of the Autumn Budget which was billed as "breathing space".

As well as announcing help with energy bills for approximately 20 million households, there was also business rates relief for hospitality firms, saving thousands of them from paying out crippling figures.

But other measures such as a rise in the national minimum wage by 3.9%, and the absence of any movement on widespread calls for a drop in VAT on hospitality businesses to 10% from 20% were labelled “disappointing” by Harrogate District Chamber of Commerce.

Martin Mann, Chief Executive of Harrogate District Chamber of Commerce said: “Harrogate District Chamber of Commerce welcomes the practical help in the Chancellor’s Budget for local businesses, particularly the higher Small Business Rate Relief threshold for retail, hospitality and leisure firms, the extra support for new founders and the continued relief for investment in equipment.

“We encourage fair pay for working people, but many of our members will be disappointed that there was no relief from the recent increases in employer National Insurance.

“Together with the 3.9% rise in the minimum wage, this will add further to the cost of employing people, particularly for small firms with tight margins.

“With growth forecast at just 1% next year, confidence will stay fragile.

“Members should check now what the changes mean for them.

“Firms with low rateable values may qualify for the higher £18,000 relief threshold, those planning to invest should speak to their accountant, and owners thinking of selling should take advice early as Business Asset Disposal Relief halves to £500,000.

“The Chamber will help members make sense of the detail and will press for Harrogate to share fully in the new local powers and funding being passed to regional leaders.

“Anyone who wants to know how the measures affect their own business is welcome to contact us.”

Book a place on tomorrow’s Post Budget Breakfast here