LEP Network responds to Spring Statement
The Chancellor delivered his Spring Statement today (Wednesday 23 March), below LEP Network Chair, Mark Bretton, sums up the Network's initial response.
“Business led Local Enterprise Partnerships welcome the Chancellor’s incentives to boost growth and the stubborn challenge of productivity across the UK – particularly the focus on incentivising firms – who are facing one of the most challenging cost environments in a generation - to train more, invest more, and boost innovation by creating more tax incentives such as reforming R&D Tax credits.
"LEPs are working with business and are ready to support the Chancellor’s drive to accelerate growth and productivity, but they need significant certainty on funding and future commitment to ensure that they can play their role to maximum effect.
“The Chancellor is right to set these challenges against the backdrop of the uncertain developments in Ukraine which may create some instability for business, especially SMEs – however LEP Growth Hubs are playing an invaluable role supporting local businesses as they navigate those uncertainties and adapt to events, helping them pivot their business models in response to the wider impact of economic sanctions – we need to ensure Growth Hubs can continue this role.”