Local businesses in Gloucester are expressing unease about the long-term consequences of the Chancellor’s recent economic plans, fearing that increased wage bills could hinder recruitment efforts or force price increases.
These concerns surfaced at the Gloucester Chamber of Commerce’s Autumn Budget Download event, held on December 5 and hosted by Fasthosts. Attendees reflected a shared sense of care and genuine concern for the welfare of working people moving forward.
Luke Lutman, CEO of the Gloucester Chamber of Commerce, commented on the event: “With businesses braced for the worst before the announcement, we have since processed the full details of the Budget. The key issues as outlined by Pi Accountancy included rising wage costs potentially causing businesses to reduce hiring or staff numbers, and the likelihood of price rises to cover these increased expenses.”
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The event also featured Gloucester MP Alex McIntyre, who engaged directly with a broad spectrum of local business representatives. “It was invaluable to hear firsthand the challenges and questions from businesses across various sectors,” McIntyre said. “I thank the Chamber of Commerce, Fasthosts, and Pi Accountancy for hosting this important discussion.”
While concerns remain, there is hope that the coming year will bring renewed business and consumer confidence, supported by government efforts to bolster the economy.