LCCI responds to the Spring Statement

Wednesday 23 March 2022

Richard Burge, Chief Executive of the London Chamber of Commerce and Industry, said:

“In London and doubtless across the country, businesses will be deeply disappointed by the Chancellor’s Spring Statement today. We at the London Chamber of Commerce and Industry strongly felt that after two back-to-back crises – first the pandemic and now cost-of-living – that bold action was needed from the Government. This budget failed to deliver that bold action. This is a missed opportunity to help businesses at such a crucial moment. This budget could have been an inflection point to put the UK and London well and truly on the road to a post-pandemic recovery.

The Government must realise that as the UK’s global city and economic engine room, London is still reeling from the pandemic, and its businesses need additional support to get back on sound footing. Today’s statement is proof that The Chancellor and this Government are neglecting London and the contribution it makes to the whole of the country. The Spring Statement has done nothing to help small businesses in the hospitality sector, nothing to address the rising cost of doing business, and failed to address the cost-of-living crisis and ever rising deprivation levels in London and across the whole of the UK.

London and the whole of the UK need long-term solutions to generate sustainable prosperity. As a world city London cannot cope with short term solutions as we lurch from crisis to crisis.”

ENDS