Bruce Potter at Blake Morgan, Summer Statement Response

“Rightly, employment sits at the heart of the statement. Today’s announcements on job retention funding, apprenticeships and the kick starter scheme are good news for businesses across Oxfordshire who want to keep people on or want to invest in future talent. Equally, there’s cautious optimism for younger people and job seekers whose opportunities may have just broadened, and investment in ‘green’ job creation through the £2bn re-fitting scheme is an important step towards our net zero targets.

“Other measures are very welcome but much more predictable. While VAT cuts, Stamp Duty cuts and money off meals out will support the housing market and stimulate the hospitality sector – and encourage people to spend, they’re standard fare for a recessionary recovery and won’t help the engineering and manufacturing sectors. Instead, what businesses and consumers across the region are looking for is a macro-economic plan for the future – how do we really tackle our infrastructure, housing, environmental and healthcare issues as well as what a vision for post-Brexit Britain really is. We know the government wants to ‘level-up’ the regions, but there was little on how that might happen today. But by addressing these big challenges this autumn, the Chancellor is more likely to create confidence in a sustainable future – which will ultimately help unlock private sector investment and increased consumer spending.”

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