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Nov 2022

Last Updated: 18/11/2022

Politics

Businesses across Harrogate district to face 'tough winter' after autumn statement

by Tamsin O'Brien

| 17 Nov, 2022

Reaction this morning's Autumn Statement has local bodies warning local businesses and consumers of a 'tough winter' ahead.

Cambridge Street in Harrogate town centre.

Local organisations are in unison with their reaction to the autumn statement, warning there will be a 'tough winter' ahead of us.

Small businesses are expected to struggle as result of this morning's autumn statement, with consumers predicted to cut disposable spending.

Harrogate District Chamber of Commerce chief executive David Simister said the statement was "exactly as previewed":

“Whilst it will no doubt have reassured the markets, there seems very little to support businesses when they need it most.

"The cost of running business will continue to rise and these increases will have to be passed on to the customers, who in turn are worse off with soaring inflation and eye watering energy prices...

"I’m afraid to say many businesses are looking at a very bleak future."

David Simister

Harrogate BID chair Sara Ferguson echoed the chamber's projection:

“There was little in today’s autumn statement to boost our high street economy... Everyone is going to have less disposal income, this will mean consumers pairing back on their spending, which will shrink the economy further."

Mr Simister and Ms Ferguson also agreed that the £13.6 billion business rates relief package would help soften the blow of April's expected rise.

Sara Fergusson of Harrogate BID, Sasso and Caffe Marconi Sara Ferguson

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Ripon BID welcomed some elements of the statement, such as the increase to pensions and benefits in line with September's inflation rate as well as the early news of the rising national living wage for over-23s.

In a statement, the organisation said:

"The UK falling into recession was expected and Ripon BID hopes that the chancellor’s measures to reduce inflation will be in his words 'as short and shallow as possible', however we would welcome any help available to businesses from the government and urge them to come up with non-inflationary measures which would aid them.

"Now more than ever it is important that we try and support our local businesses by shopping locally and giving support to our Ripon city region independents.

"Ripon BID is here to help BID businesses and would urge those businesses to get in touch with us to enable us to help promote their business and any promotions over the festive season and into the new year."

Chancellor Jeremy Hunt delivered the autumn statement earlier today. Millions across the country will face rising taxes and Mr Hunt spending cuts have been made to "tackle the cost of living crisis and rebuild our economy".

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Businesses across Harrogate district to face 'tough winter' after autumn statement

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