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Chamber’s Response to Today’s Government Spending Round

Jonathan Walker, assistant director, North East England Chamber of Commerce said: “With the prospect of a limited review briefed in advance, we knew this Chancellor’s statement was unlikely to contain much to get North East businesses excited.

“While it was light on detail, we were pleased two of our priorities were addressed. The news that there will be £400m for further education for 16-19 year olds is welcome, as is the fact that this funding will include investment for apprenticeships and T levels. However the lack of additional funding for careers advice for young people was disappointing as our members consistently tell us how important it is, for them to get the young people they need.

“The Chamber has also called for greater investment in the UK’s overseas presence to match our competitor nations and generate new export opportunities. The announcement of £90m for 1,000 diplomats and 14 foreign outposts is therefore positive.

“With the prospect of an election looming large, the uncertainty facing businesses shows little sign of abating. Business confidence and investment will continue to be undermined while big questions over our future trading relationships, regional funding and vital infrastructure remain unanswered”.

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