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Autumn Statement 2015: Reaction

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The Chancellor George Osborne has now delivered his Autumn Statement 2015.

Here is a collection of immediate reactions from the UK’s leading business groups:

Federation of Small Businesses

John Allen, national chairman for FSB, said that small businesses will be pleased that the Chancellor has listened to their concerns.

“Mr Osborne has managed to fund areas that drive productivity and long-term economic growth, such as skills and the science and innovation base.

“Importantly, small firms will be relieved by the extension of small business rates relief for another year, pending the full reform due in 2017.”

British Chambers of Commerce

John Longworth, BCC director general, was also pleased with the Chancellor’s statement to improve business infrastructure, particularly on repairing broken road networks.

“Increasing investment in science and technology is a boon to our dynamic businesses, especially in our thriving tech sector, so that they have room to grow.

Longworth also agreed with George Osborne’s plans to reducing the budget deficit and changing how the state works.

“Reshaping the state will in general be beneficial for the economy, because as a rule the public sector is less productive and less efficient than the private sector.”

Institution of Directors

Simon Walker, director general of IoD, said: “He’s chosen to play this hand with more spending than expected. Although departmental budgets outside the ring-fence are seeing significant reductions in expenditure, overall the Chancellor will continue to preside over a rising real terms budget this Parliament”.

Confederation of British Industry

Carolyn Fairbairn, CBI director general, embraced the news on the apprenticeship levy: “We welcome the creation of a levy board to give business a voice on how the money is spent and will work with the Government to ensure a focus on quality”.