Milton Keynes Chamber reacts to summer budget

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Milton Keynes Chamber of Commerce has praised the Chancellor for showing commitment to helping businesses grow.

Chief executive Paul Griffiths said: “Today we heard Chancellor of the Exchequer George Osborne deliver the first all-Conservative Budget since 1996.

“In outlining the Government’s financial plans for the future we heard some significant measures to boost the economy.

“Milton Keynes Chamber of Commerce is pleased the Chancellor recognised our calls along with The British Chambers of Commerce, for more investment in the country’s infrastructure.

“The announcement of major reforms to road tax to pay for the road network – investment which is vital for the continued success and development of our local industries - is welcome news.

“Another win for the business community is the decision to set the annual investment allowance(AIA) at a permanent figure of £200,000 from January 2016 and to lower National Insurance for small businesses.

“The AIA will give small and medium-sized businesses greater certainty over making decisions to invest in the long term which will be key to supporting firms’ plans to expand, improve efficiency and create jobs.

“We still need to see the full details of all the measures but it is clear the Chancellor has shown his commitment in his Summer Budget to helping businesses to grow.”