Chancellor Rishi Sunak’s spending review on 25th November has outlined some positive funding changes for the North of England, giving hope to local businesses and SMEs facing an uncertain future. More information, however, is needed on a UK trade deal as the Brexit date grows closer.
Paul McFadyen, Managing Director of leading online metals retailer, metals4U, comments: “As a Yorkshire business, we are optimistic to hear that more funding is being given to the north. It gives hope to us, and other northern businesses, that our local areas are no longer being ignored by the Government.
“We are pleased to see them coming through on their promise of greater investment in infrastructure and hope this will mean providing more support for SMEs like ourselves.
“We welcome the employment scheme as this will have the potential to expand our workforce, and wage increases will be of great benefit to the financial wellbeing of our staff.
“It is disappointing that we are still waiting to hear more on the announcement of the trade deal once we leave the EU at the end of December. We need more certainty and clarification on details such as customs checks and tariffs on imports of materials for businesses. The pandemic is heavily affecting the sourcing of raw materials, construction materials, and labour, so a solid plan for a UK trade deal is imperative.”