Jeremy Hunt delivered the budget, likely to be the last one before the general election, on WednesdayBusiness leaders across the West Midlands have been sharing their reaction to the announcements made in Wednesday's budget.
Julie White, owner of Coventry-based concrete cutting and controlled demolition company D-Drill, welcomed the decision to freeze the cost of fuel duty.“If we know for definite there is a freeze then we can plan and we know how much it will cost next month and the month after.Ms White said her business was facing a number of increasing costs but said the fuel price-freeze as one of the biggest ways to help small businesses.
Richard Smith, owner of The Wine School of Cheshire, said the increase in alcohol duty last year was a factor for inflation remaining high.“If it was lower people would perhaps have that second glass or second bottle so they would spend more in a venue they’re in or a shop – and that puts more into the exchequer through VAT etc.”“There are a lot more complications to come because it’s going to be based in the future on percentage of alcohol,” he said.
He said the industry would welcome a cut in VAT on hospitality, but appreciated the difficult economic circumstances the country is facing.Corin Crane, chief executive of Coventry and Warwickshire Chamber of Commerce, said there was little announced that would help firms involved in manufacture and construction
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