NCC's reaction to today's Budget announcements from a trade association's perspective

Commenting on today’s Budget announcements, John Lally, the NCC’s Director General, said: “The Budget announcements paint quite a mixed picture. On one hand we have a freeze in corporation tax, and less impactful changes to business rates for companies in the retail, hospitality and leisure sectors. And yet the Chancellor has also announced significant increases to the National Living Wage and National Insurance contributions by businesses, which adds to the burden on companies that are already facing difficult economic times.

“We welcome any investment that grows the UK economy, especially for the automotive sector, improvements to the transport infrastructure, further support for green initiatives including the transition to electric vehicles, and enhancing the skills of the nation’s workforce.”