Spring Budget 'must hit four key targets', warns BCC

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14 Feb 2023

The British Chambers of Commerce (BCC) has outlined four goals Chancellor Jeremy Hunt should hit in the upcoming Spring Budget.

The BCC highlighted energy costs, childcare, business rates and green funding as the four key areas that require urgent action from the government. These four 'non-negotiables' form part of the BCC's Budget submission, which it has delivered to the Treasury.

It has called for the Chancellor to make childcare more affordable for parents and guardians; boost UK start-ups by reforming the business rates system; provide extra funding to help firms become more energy efficient; and set a framework for Solvency II investment that helps direct funds to where they can have the most impact.

'The last three years have put UK business under huge stress, and we urgently need to see coherent policies from the government that set the economy on a path to growth,' said Shevaun Haviland, Director General of the BCC.

'We need to unlock the potential of our start up and scale up firms by giving them some certainty on the future and relieving the upfront cost pressures that strangle their ambition before they can get off the ground.

'Chambers are already developing their own accelerators to help firms invest in greener and more energy efficient technologies and systems, but the government needs to do more.'

The Chancellor will present the Spring Budget on 15 March.