Commenting on the Chancellor’s Budget Statement, Suzanne Wylie, Chief Executive, NI Chamber said:
“While we recognise the fiscal constraints, this Budget falls short on bold incentives to drive growth, which the government has previously said is its number one priority. The UK’s productivity continues to lag – a stark warning that we must tackle structural weaknesses if we are serious about long-term economic performance. Without decisive action on innovation, trade and the workforce, the UK risks falling further behind.
“The Budget introduces numerous small changes which will take time for businesses to digest. Individually, these may seem manageable, but collectively, they risk creating a cumulative burden on firms already grappling with rising costs and economic uncertainty.
“We welcome the £17M support package to help Northern Ireland businesses navigate the Windsor Framework. This is a positive step, but more must be done to address regulatory divergence and tackle customs barriers that continue to constrain trade.
“Today will be followed by the publication of a draft multi-annual budget from the Executive. The Chancellor’s budget reinforces why the Northern Ireland Executive must work collaboratively with business on major growth drivers, as well as picking up the pace on transformation and engaging on innovative solutions to bridge budgetary gaps.
“Investment in infrastructure, innovation and skills cannot be deferred – these are the foundations of productivity and competitiveness. A clear, long-term strategy is essential to unlock Northern Ireland’s economic potential.”
