“It’s encouraging to see the Chancellor placing jobseekers and employees at the heart of his Autumn Statement and offering them some reassurance during a period of economic uncertainty. The increase to the National Living Wage may give more households some financial breathing space, but the impact on employers has to be considered too as we don’t want to discourage companies – particularly small businesses – from hiring and expanding their teams.
“The £400m earmarked for venture capital funds that will unlock £1bn in finance for growing firms will hopefully boost the British spirit for entrepreneurship. The rise in self-employment and the thriving research and development sector cited by Phillip Hammond in his speech shows that the UK is a hotbed for innovation and get-up-and-go. This is further proof that backing this entrepreneurial explosion can be just as effective a tactic as supporting big businesses.”
