NI Chamber responds to the Chancellor’s statement

18th Oct 2022

Responding to the Chancellor’s statement, Ann McGregor, Chief Executive of Northern Ireland Chamber of Commerce and Industry (NI Chamber), said:

“Following the economic turmoil of the last few weeks, today’s emergency fiscal statement was a necessary intervention by the new Chancellor.

“Keeping support for the NICs reversal in place will be some relief for businesses, but on its own will not be enough. Whilst we acknowledge that the Chancellor has a delicate balancing act to carry out, he must go further to prove he is serious about helping businesses through the difficult months ahead as rising inflation, interest rates and energy costs continue to dominate the cost of doing business crisis.

“For as long as Northern Ireland remains without an Executive, an Energy Taskforce should be established immediately between policymakers and relevant stakeholders, to address Northern Ireland’s unique circumstances and secure the best outcomes in tackling the energy crisis, protecting security of supply and driving the low carbon transition.”