What does the Spring Statement mean for business?

The Chancellor of the Exchequer has given his Spring Statement to Parliament. As part of his announcement, Rishi Sunak has revealed a cut to fuel duty and a number of tax changes. But what do these changes mean for businesses?

We spoke to Senior Partner at finnCap Cavendish and Senior Treasurer of the Conservative Party, Lord Howard Leigh, to find out.

Here’s what we covered in our discussion:

  • Could you give a brief summary of the Spring Statement and what it means to businesses and consumers? (0:54)
  • There are business rates reliefs on the use of green technology – if they haven’t already done so, should businesses now start planning to invest in this? (2:16)
  • There was welcome business rates relief announced for eligible retail, hospitality, and leisure properties. What will this enable businesses to do in the near term? (3:04)
  • How should businesses capitalise on the Help to Grow Management and Digital schemes or the Annual Investment Allowance? (3:56)
  • What accounts for a drop in economic growth? (5:51)
  • What should businesses consider ahead of any potential changes to the tax rates in business investments in the Autumn Statement? (7:05)
  • Inflation is at its highest rate in 30 years, what does the prognosis look like in your opinion? (9:05)
  • Final word from Lord Howard Leigh (10:35)

This interview is brought to you in partnership with finnCap Group. Be sure to subscribe to the Business Leader YouTube channel for more live events and interviews with some of the world’s leading business figures.