President Ruth Young has signed a letter on behalf of the Chamber’s members, joining a large coalition of business groups across Northern Ireland in calling for immediate action to address the Cost of Doing Business Crisis.
The letter, signed by 24 Chambers of Commerce and business associations, represents members and workers contributing billions to the local economy. It expresses deep concerns over the UK Budget’s negative impact on high street businesses, including:
- Thousands of businesses facing an uncertain future, with plans for growth and new hiring put on hold
- The highest business rates in the UK, which businesses are struggling to pay
- The Chancellor’s decision to increase Employers National Insurance, further adding to cost burdens
- A 6.7% increase in the Living Wage, another major cost for small businesses to absorb
The coalition is calling on the Northern Ireland Finance Minister to provide appropriate business rates relief, using the Barnett consequential from the 40% rates relief scheme announced for England. This, they argue, would offset the National Insurance increase and allow businesses to reinvest more into job creation and economic growth.
“Our members are in crisis, facing an unprecedented squeeze on their finances,” said Ruth Young. “Urgent action is needed to save jobs and allow our local businesses and community to thrive. We stand united with this coalition in calling for the rates relief our companies desperately need.”
The letter is signed by the CEOs, Presidents and Chairs of 24 business groups, including Retail NI, Hospitality Ulster, and Chambers of Commerce from towns and cities across Northern Ireland, which you can read below.
