Business Response to Autumn Budget 2024 Survey Findings

This document is a report detailing the findings from a survey conducted among businesses in the East Midlands following the Autumn Budget 2024. The survey captured responses from 239 businesses across various sectors, including manufacturing, construction, retail, and public services. The results indicate significant concerns regarding new fiscal measures and their potential impact on future investments. Key findings highlight negative sentiments towards National Insurance increases and the National Living Wage hike, with many businesses fearing operational cost increases and potential staff reductions. The report also discusses the urgent need for reform in the business rates system and the inadequacy of current support for innovation and development. Projections for growth, capital investment, and recruitment are tempered by the budget changes, with many businesses indicating a cautious approach to future investments and workforce expansion. The document urges policymakers to consider these insights to support regional business resilience.