The North & Western Lancashire Chamber of Commerce is calling on the Chancellor to use the upcoming Autumn Budget to restore business confidence.
Recent hikes in National Insurance contributions and other tax reforms have already forced many Lancashire firms to reconsider future spending plans, pause recruitment, and delay key investments.
At the forefront of its Budget submission to the Treasury, the Chamber has stressed that the business community should not bear the brunt of further taxes.
It wants Rachel Reeves to deliver a credible, long-term roadmap for growth, warning that further tax increases would critically undermine investment and recruitment across the county.
In its submission to the Treasury, the Chamber also calls on the government to keep fuel duty frozen; review landfill reforms; extend the longevity of the current Local Skills Improvement Plans; introduce a business energy and efficiency investment loan scheme and give extra support to exporters in Lancashire.
Recent surveys carried out by the Chamber have shown business confidence is at a level of that not seen since Covid when many firms were forced to make redundancies and cut back on investing in staff and machinery.
It is hoped the government will use a lack of growth in the wider economy to stimulate businesses into investing in their future.
Babs Murphy, chief executive, said: “Chamber members and the larger business community have taken on the reforms forced upon them in the last budget and in turn had to shelve plans for future investment and recruitment.
“There is now limited faith in the government’s ability to deliver growth, and this is a real concern for many businesses.
“They require a clear roadmap which leads the economy forward and allows them to prosper, not constantly looking over their shoulders and worrying about the future. This Budget is the perfect opportunity to shape the economic future for the county and the rest of the UK and provide what is needed to deliver that growth.”
