Dorset Chamber chief executive Ian Girling has largely welcomed Chancellor Rishi Sunak summer statement giving the business sector plenty of food for thought.
Reacting to the statement Ian Girling said: “Although the ‘eat out to help out’ giveaway will grab the headlines, the most important focus of this announcement was about jobs. The new furlough retention bonus shows how concerned the Government is about mass unemployment once the scheme ends but it may not be enough for those firms which have been severely hit.
“The leisure, tourism and hospitality sectors in Dorset have been particularly badly affected by the pandemic so the VAT cut will be especially welcome in this sector. Anything which puts more pounds in the pocket of the public, such as the green homes grant, is a good thing while the changes to stamp duty will also be a boost. Measures to boost youth employment, traineeships and apprenticeships are welcome yet may be seen as a short-term fix.
“As ever the devil will be in the detail with many cash-strapped businesses keen to know how and, importantly, when money would be paid if they sign up to schemes. The Chancellor missed an opportunity to cut employer National Insurance contributions and we still have no clear idea how the government is going to pay for all of its emergency measures.
“But overall it was a box office speech which will help boost confidence before his Budget in the autumn when we will have much clearer idea of the true impact of the pandemic.”