He set out a series of measures the government hope will help businesses boost investment, innovation, and growth – including a £1,000 increase to Employment Allowance to benefit around half a million smaller firms.
This Budget comes against a backdrop of war in Ukraine, with the Chancellor making clear today that sanctions against Russia will not be cost-free for us, and that Putin’s invasion presents a risk to our economic recovery – as it does to countries all around the world.
We have already seen the cost of living rise again, with official figures released today showing prices rose by 6.2% in the 12 months to February - the fastest for 30 years - as fuel, energy and food costs surged.
To lift growth and productivity among UK businesses, Mr Sunak set out plans to boost private sector investment and innovation and bring in a new culture of enterprise.
For businesses, the main points from today's Spring Statement include:
Dan Collins, Salisbury BID Business Manager said: "We welcome any extra support for businesses. It has been a hard few years and the tough times will continue as businesses deal with the rise in costs and fuel. Despite this, Salisbury has remained strong with the support of the local community. Vacancy rates still remain below the national and regional average and businesses continue to choose the city as their new home. And, as tourism continues to improve, there is reason to be optimistic.”
More information on today’s budget announcement can be found on the government website, plus, the Salisbury BID team are on hand for any advice and support. Contact us on firstname.lastname@example.org
In partnership with VisitWiltshire, Salisbury BID co-fund the Visit Salisbury website to promote the city to visitors. The Visit Salisbury website has a full events calendar for Salisbury.