‘Budget good in parts but lacks detail on long term strategy’

Author - Jonathan Walker

Date published:

Jonathan Walker, policy director, North East England Chamber of Commerce said: “The Budget had some welcome announcements for North East businesses but our wait for a long-term levelling up strategy goes on. 

“In the near term we were pleased to see Government had listened to our campaigning on the need for support for the hospitality, arts and culture sectors as well as our regional airports which were so badly hit by the pandemic. 

“We welcome the confirmation of funding for a number of regeneration and transport projects across the region. 

“Similarly, many of our members will benefit from the measures announced today on business rates although they fall short on the substantial reform that is needed. 

“However, substantial longer-term strategies like the Levelling Up White Paper, the integrated rail plan and details on how the Shared Prosperity Fund will work, have yet to see the light of day. Without these plans it is difficult to judge how much of a long term impact the levelling up agenda will have on our economy.  

“We would like to have seen further support for exporters as international trade is so crucial to our economy.” 

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