Retail NI chief executive welcomes plans to ‘reverse the National Insurance increase’

Reacting to the Chancellors statement this morning, Glyn Roberts, said: “We welcome that the Government is to reverse the National Insurance increase which will provide some relief to local independent retailers who are struggling with the cost of business crisis.
“Retail NI will engage with the Secretary of State for NI on how the Investment Zone proposals could apply to Northern Ireland, particularly in town and city centres that have high levels of dereliction and are in need of further support.”
However he added: ”We are disappointed that no funding assistance from Treasury has been allocated to allow a business rates holiday to be introduced locally. If we are to stand any chance of saving local high street businesses and protecting jobs, it is vital that a rates holiday is urgently introduced.
“Lowering VAT rates should also have been included in this statement, rather than focusing on stamp duty and corporation tax.
“The UK Government needs to go a lot further in supporting our local high streets and we will continue to press for further measures.”

Meanwhile Tony Danker, CBI director-general, added: “This is a turning point for our economy. Like Covid, the energy crisis has meant Government has had to spend massively to protect people and businesses. That means we have no choice but to go for growth to afford it.

“Today is day one of a new UK growth approach. We must now use this opportunity to make it count and bring growth to every corner of the UK. Fifteen years of anaemic growth cannot be repeated.

“Taking action to get Britain’s economy moving again by beginning construction on transport and green infrastructure projects shows immediate delivery. Planning reform is long overdue. A simpler, smarter approach to tax can pay dividends, and firms will be keen to make the most of the investment incentives on offer.

“It’s not perfect – it’s just the beginning – but there’s plenty business can work with. The Chancellor signalled more proposals to come this Autumn and these will be vital to sustain momentum on growth.”