Comment Time for some answers, Chancellor
business and enabling companies to invest in people and products are at the forefront of our wish-list.
We are also calling on him to provide greater clarity on the impact on tariff legislation and restrictions on movement; set out a clear plan on how to boost levels of trade with non-EU countries; clarify how funding will be made available for business in place of EU funding (in particular grant funding); and adapt new migration policies to ensure UK businesses can access talent from abroad.
Around 247,000 EU citizens are currently living in the West Midlands, many of whom are employed by local firms.
With 47 per cent of the region’s exports coming from the EU and 62 per cent of imports going to the EU, businesses are also keen to hear how the Government plans to boost levels of trade with non-EU countries.
Generally, the business community needs immediate clarity on the government’s Brexit agenda. problems they are facing during this ambiguous period. The Autumn Budget is the ideal platform for the Chancellor to deliver these answers.
Providing assurances around trade, immigration and investment will go some way to alleviating these concerns and give local businesses the encouragement they need to continue to expand and grow.
And at least the latest inflation figures reduced the prospect of a further interest rate rise to hopefully introduce some stability into a volatile situation given the uncertainty surrounding Brexit.
We are currently surveying members for our final Business Report of the year and we hope that confidence will be maintained with firms in the region still showing solid levels of growth.
If that is the case, it will again demonstrate the remarkable resilience of businesses in the West Midlands to ride out tough times. Paul Faulkner is chief executive of Greater Birmingham Chambers of
Commerce
The business community needs immediate clarity on the government’s Brexit agenda