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just one in four Business Leaders say
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they have confidence in the government
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to deliver economic growth a survey has
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found research by the London Chamber of
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Commerce and Industry lcci spoke to 200
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bosses in the capital and found 77% of
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those they ped said they weren't
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confident in ministers delivering their
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commitments to get the UK's economy back
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on track while 81% of respondents said
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they weren't confident the government
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would address business's concerns in the
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wake of a budget which hiked tax by 40
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billion including raising employers
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National Insurance contributions and has
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SA growth expectations chief executive
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of the lcci Karim fate said it was a
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sure sign firms are losing faith in
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Minister's strategies and that the
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findings confirmed our worst fears he
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said the business Community views the
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combined package of increased employer
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NC's cuts to business rates relief and
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the employment Rights bill as a serious
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threat to their operations and fat
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argued that firms in the wake of a cost
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of living crisis soaring inflation
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higher borrowing costs and trade
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tensions needed support rather than
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measures that prevent them being a able
1:00
to invest train their staff and hire new
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employees but a government spokesperson
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has insisted that labor was elected on a
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pledge to grow the economy they said the
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Chancellor's budget will fix the
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foundations unleash private investment
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and give British businesses the
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stability and opportunities they need to
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thrive however the lcci survey also
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found more than three quarters of firms
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were concerned ministers had not
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meaningfully engaged with businesses
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over the package of workers rights
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measures which is expected to Outlaw
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exploitative zero hours contracts and
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could Grant work workers certain rights
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from day one while family businesses
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have expressed concern over inheritance
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tax changes which will see farmers pay
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higher death duties on their land the
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lcci argues the policies announced in
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the budget and the workers rights
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package have created a perfect storm for
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businesses in the capital and could mean
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the government is unable to deliver the
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long-term growth which it has made a
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Cornerstone of its strategy but the
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government spokesperson responded saying
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thanks to our changes more than half of
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employers will either see a cut or no
1:57
change in their National Insurance bill
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business rates for retail hospitality
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and Leisure have been permanently cut
2:03
and corporation tax has been capped at
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25% this is on top of work to tackle
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barriers to trade and bring forward 63
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billion in private sector investment
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they said what do you make of businesses
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losing confidence in the government let
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us know your thoughts in the comments
2:16
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