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South Yorkshire business confidence slumps after budget, says Chamber
Business conditions and confidence levels have weakened dramatically across South Yorkshire since Government’s Autumn Budget, according to finding from the region’s latest Quarterly Economic Survey.
The Chamber says responses from about 300 companies of varying sizes paints a troubling picture of how the local economy is performing, and how businesses have ultimately born the brunt of some of the more controversial measures announced by Westminster.
After charting a positive trajectory in recent surveys, key indicators like domestic sales performance, exports, and cashflow positions have all taken a sharp downward turn this quarter, while confidence in turnover and profitability levels has similarly declined. Conversely, the proportion of firms expecting the prices of goods & services to go up has increased, reaching a two-year high of 59%.In a joint statement the respective Chief Execs for Doncaster, Sheffield and Barnsley & Rotherham Chambers of Commerce issued the following joint statement:
“It’s evident that the Autumn Budget is already exacting a heavy toll on business owners, who are having to make some tough calls as a result; whether it’s scaling back their investment intentions; putting up their prices; or potentially even thinking about reducing their workforce levels.
“Although there are undoubtedly other factors at play contributing to this collapse in optimism, it’s hard not to point at what our survey respondents told us is their biggest source of consternation right now. Ever since 2021, inflation has consistently remained the number one worry for firms here in South Yorkshire, often eclipsing any other anxieties by a wide margin. Yet, this time around, corporate taxation towered well above it, being cited as a major issue for over 63% of firms. For context, in the previous quarter leading up to the Autumn Budget, this number was at only 37%.
“In times of economic turmoil, Westminster ought to be encouraging entrepreneurialism and growth. Yet the consequences of their Autumn Budget — and specifically the corresponding hike in the National Insurance contributions paid by employers — are plain to see here. Business confidence is now falling at an alarming rate.
“With that said, while we do welcome planned interventions to restore stability in the long term, such as the forthcoming industrial strategy, something needs to be done in the here & now to convince businesses that the Government is attuned to their plight and that it indeed has their back.
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Opticians wins sustainability accreditation
Bayfields Opticians and Audiologists has won sustainability certification after successfully offsetting its carbon emissions across its audiology services at seven of its Yorkshire practices.
Practices in locations including York, Harrogate and Headingly have earned the Carbon Neutral Audiology certification by calculating its carbon footprint – including emissions from client travel to and from the practice – and offsetting these emissions through Net Zero Eyecare. This gives clients added peace of mind that when they purchase a product or book an assessment with Bayfields, their carbon footprint is effectively offset.
Net Zero Eyecare purchases carbon credits on the practice’s behalf from the Gold Standard marketplace, supporting carefully selected projects worldwide. These projects balance out emissions and contribute to global sustainability initiatives, such as reforestation, renewable energy generation, and clean water access.
Bayfields also runs a recycling scheme where clients can drop off old hearing aids into practice. They are then collected and donated to Chichester Lions Club who send them to be reused in eye and ear clinics across countries such as Papua New Guinea, Sri Lanka, Ghana and Nigeria.
The Yorkshire-based practices are six of 35 Bayfields locations across the UK to achieve this sustainability certification, as the business works toward its ambitious goal of becoming fully carbon-neutral by 2026.
Megan Harper, Sustainability Manager at Bayfields Opticians and Audiologists, said: “Sustainability is at the heart of everything we do. It’s not just a corporate initiative — it’s a genuine commitment to making a positive impact on the environment.
“By getting our practices to Net Zero Carbon Status and achieving Carbon Neutrality across our audiology and eyewear services, by the end of 2024 across the business, we will have successfully removed 15,483.83 tonnes of Co2 from the atmosphere, which is equivalent to taking approximately 3,366 cars off the road for a year.
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Government sets up Steel Council to ‘rebuild UK steel sector’
“A vibrant steel sector is crucial for economic growth and our national security, and by reflecting views from industry across the UK as we bring forward our Steel Strategy we’re delivering on the Plan for Change and boosting economic stability.”
Jon Bolton added:”I have worked in the steel industry globally for over 40 years, and it’s clear this sector has faced many challenges. “However, I believe the UK has all the essential elements to attract investment into the steel industry: demand, skills, technology, unrivalled research and development and, critically, a supportive government having announced up to £2.5 billion of support.“I see the Council’s task being to develop a strategy that details the core elements of that investment plan and to establish a roadmap towards a rejuvenated, competitive and environmentally progressive industry.”
Full list of the Steel Council’s membership:- Jonathan Reynolds, Secretary of State for Business and Trade (Chair)
- Jon Bolton, Chairman of the Materials Processing Institute (Co-chair)
- Sarah Jones, Minister of State for Industry and Decarbonisation
- British Steel
- Tata Steel
- Liberty Steel
- Marcegaglia UK
- Sheffield Forgemasters
- Celsa Steel
- UK Steel
- British Metals Recycling Association
- Materials Processing Institute
- Warwick Manufacturing Group
- Community Trade Union
- GMB Trade Union
- Kate Forbes, Deputy First Minister and Cabinet Secretary for Economy and Gaelic, Scottish Government
- Rebecca Evans, Cabinet Secretary for Economy, Energy and Planning, Welsh Government
- Conor Murphy, Minister for the Economy, Northern Ireland Executive
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More than 5m people still have to file tax returns
“The quickest and easiest way to complete your tax return and pay any tax owed is to use HMRC’s online services – go to GOV.UK and search ‘Self Assessment’ to get started now.
“Some 97% of customers now file online and one benefit is that they don’t have to complete it all in one go – they can save what they have done and pick it up again later. ”