Leading commercial finance company Q Financial Services gave a cautious welcome to today’s autumn Budget – but said that the devil would lie in the details of the Chancellor’s speech.
Q – which has offices in Wellington and Shrewsbury – said it was encouraged by moves to boost the construction sector, improve regional transport and develop skills and training.
But it said the Chancellor could have gone further in creating an efficient tax system which would allow businesses the confidence to invest in their own growth and meet the climate emergency challenge.
Q director Steve Parry said: “We very much welcome the Chancellor’s £3.8billion plans to invest in education, skills and training and boost housing construction on brownfield sites with a £1.8billion investment. The investment in regional transport improvements will also help our region compete on a level playing field with the South East.
“We are also pleased to hear that the review of business rates is now moving forward, with a move to a three-year valuation cycle and overall cuts in the tax take of some £7billion.
“But we will have to study the detail of the proposals in some depth to see exactly what they will mean for many of our clients.
“The Chancellor has outlined some measures to help businesses further in relation to Covid and that is also to be welcomed. But we will have to now study the fine print behind some of the announcements to see just how effective they will be.
“As ever with the Budget, the devil will lie in the detail and the full picture of what the Chancellor has announced today will only begin to emerge in the coming days and weeks.”
Q offers a full range of services including commercial finance support, mortgage and protection planning and financial planning across Shropshire and the West Midlands.