LCCI Submits Open Letter to the Chancellor Ahead of the Spring Statement

Tuesday 24 February 2026

Ahead of the Spring Statement next week, Karim Fatehi OBE, CEO of the London Chamber of Commerce and Industry, has written an open letter to the Chancellor setting out the priorities and concerns of London’s business community.

“Ahead of the Spring Statement, the London Chamber of Commerce and Industry (LCCI) is urging the Chancellor to prioritise stability, competitiveness and growth.

Business confidence in the capital remains fragile. LCCI’s latest survey shows only a quarter of firms expect London’s economy to improve this year, with many delaying investment and recruitment amid rising taxes, wage pressures and operational costs.

Now is the time to set an agenda that instils confidence, not add further burdens. With rising employer costs already weighing on recruitment decisions, government must be careful it does not turn hiring into a risk rather than an investment. Businesses need a stable fiscal and regulatory environment, meaningful reform of business rates, and targeted support for SMEs who are disproportionately exposed to rising costs.

We also call for careful implementation and review of the proposed tourism levy, renewed focus on skills and workforce flexibility, and sustained investment in critical infrastructure including airport expansion.

London is one of the primary drivers of UK growth. The Spring Statement must send a clear signal that government is backing business, unlocking investment and working in partnership with industry to deliver long-term prosperity.”

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