The upcoming Spring Statement must look to offer relief for businesses that are feeling "battered and bruised," the British Chambers of Commerce has said.
The national business organisation has asked the Chancellor to use her second Budget as an opportunity to outline a "wider tax roadmap" which will give companies an idea of when national insurance and business rates will be reduced.
Speaking ahead of Wednesday’s Spring Statement, Shevaun Haviland, director general of the British Chambers of Commerce, said: “Businesses are feeling battered and bruised by the heavy cost pressures looming within days. The Chancellor must use her Spring Statement to offer some respite.
“From next week, firms face an unpalatable menu of higher national insurance (NI) and minimum wage bills, coupled with the impact of further US tariffs. There will be little escape for businesses, with our research showing 82% of firms will be impacted by just the NI rise.
“Our asks of the Chancellor are clear. We want to see her outline a wider tax roadmap, which includes national insurance and business rates, giving firms a clearer idea of when costs will be lowered.
“Businesses also want to see faster movement on infrastructure development and renewed support for exports, including a UK/EU reset that removes trade barriers. Finally, the government must do all it can to minimise costs and complexity for business from the proposed Employment Rights legislation.
“Businesses are key to getting the economy out of its current growth rut. The Chancellor needs to pull ever lever possible this week, and in the coming months, to get firms investing, recruiting and exporting.”