Lincolnshire Business will be hosting a live panel to discuss how Philip Hammond’s first Autumn Statement will impact business at a local level.
The panel will be hosted by Marketing Partner for Streets Chartered Accountants James Pinchbeck at the Lincoln Leadership and Management Centre (LLMC).
Panelists (as pictured above) include Sam Elkington, Lincoln Head of Office for Lambert Smith Hampton, Paul Banton, Managing Director at Ruddocks, Tax Partner for Streets Chartered Accountants Erica Manderfield, David Thorpe, Lincolnshire Development Manager for FSB and Professor Ian Barnes, Head of International Partnerships at the University of Lincoln.
Business leaders are looking to the announcement as guidance for how the economy will change in preparation of leaving the EU, however they are also concerned that promises announced by the former Chancellor will not be upheld.
Panelists have said they are hoping the government will confirm previous proposals including a cut in Corporation Tax to the already announced level of 17% by 2020, funding for upgrading roads and railways such as an improved east-west rail link to better serve Lincolnshire, funding for smaller house builders relaxed and simplifying the tax systems.
David Thorpe said: “The Autumn Statement offers an opportunity for the government to retarget infrastructure spending to unlock economic growth.
“Businesses seek reassurance that no additional tax burdens are introduced and that the government reaffirms the commitment to permanently increase business rates relief for small businesses announced in March 2016.
“Changes to the Business Rates regime which could be delivered at low cost to support businesses would be welcome.
“Complexity within the tax system continues to have a detrimental effect on the ability of businesses to grow. Simplifying the tax regime will allow business owners to focus on growing their business rather than continuing to spend time and resources dealing with paperwork.”
Watch the live panel on the Lincolnshire Business Facebook Page, November 23 following the Autumn Statement.