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Chamber News

Chamber delighted: NDR has full approval and funding

Work on Norwich Northern Distributor Road will be underway before Christmas after the final seal ofapproval was received today (Weds) by Norfolk County Council.

Development Consent was granted in June (2015), but the plans also required Full Approval from the Government because of the amount of national funding going into the project. That was announced today as part of the Chancellor’s Autumn Statement, and the Council has now received a letter of confirmation, including the release of £77.49m over three years (See Notes for Editors).

Preliminary work will now start as soon as possible, including site clearance, archaeology and utility service diversions. Main construction will begin in the New Year (2016), probably around March. The main contractor is Balfour Beatty Civils (formerly Birse Civils)

The 20km dual carriageway, running from the A47 at Postwick, east of Norwich, to the A1067 north of Taverham, will take thousands of vehicles a day off congested and unsuitable roads, bringing relief to local communities and allowing a range of further ‘Transport for Norwich’ schemes in and around the city. It will open up access to much of Broadland and North Norfolk and to Norwich International Airport. As well as providing a high quality link around the north and east of Norwich, it will improve access to existing and planned business and housing developments and give a £1billion boost to the local economy.

Caroline Williams, CEO of Norfolk Chamber of Commerce, said: “The building of the NDR is a clear signal that Norfolk is ready to embrace growth and development in order to create the jobs and houses we need. Norwich continues to punch above its weight as a dynamic business location and this piece of the jigsaw is very welcome to enable us to move forward even faster.”

Cllr George Nobbs, Leader of Norfolk County Council, said: “This is a memorable day for Norfolk and Norwich. This announcement from the Government is confirmation that over £100m* in national funding will be coming to Norfolk for Norwich Northern Distributor Road. The road is essential infrastructure for the future wellbeing of the city and county, supporting economic growth and new jobs, and making journeys quicker and easier for thousands of people every day.

“I am grateful for the support of other authorities in Norfolk, especially Norwich City, Broadland and South Norfolk, and for the way in which the Secretary of State and New Anglia LEP responded to our requests for additional support**.

“The funding package is now firmly in place. This means that we are on course for site clearance work to start in the next few weeks, with main construction beginning around the end of March next year. This work will include environmental and wildlife protection measures that set new standards nationally – I am looking forward to planting the first of the 30,000 trees that will be going in along the route.

“We know that Norfolk needs better infrastructure, and there is almost £106.5m* of national funding on the table to pay for this road. We should now be working together to make the most of the opportunities the NDR will give us, and to press for further national investment in our roads and railways – particularly the A47 and Great Yarmouth’s third river crossing, and the Norwich to London main rail line.”

Mark Pendlington, Chairman of New Anglia LEP said: “This road will deliver more than £1bn in economic benefit for Norwich and the wider economy. It is critical in delivering thousands of jobs, new homes and driving the economic growth we need across Norfolk and Suffolk. Today’s announcement brings us closer to those goals.”

Cllr Andrew Proctor, Leader, Broadland District Council, said: “This is fantastic news and after many years work and consultation we now have the certainty we have been waiting for. The whole of the NDR route is in Broadland and it is extremely important in fulfilling our ambition for more jobs, more homes and more opportunities for everyone in the district.

“Alongside the major economic advantages to business growth, our support for the road has always been in the belief that it would bring direct benefits to people living in Broadland. There will be faster, more reliable journey times for residents , sites for new homes will become more viable, access will be improved to Broadland Business Park and, ultimately, it will facilitate better public transport that will relieve traffic congestion to the east and north of Norwich.”

Cllr Alan Waters, Leader of Norwich City Council, said: “Greater Norwich is going from strength to strength but good infrastructure is vital to support it through this growth. Delivery of the NDR will not only relieve stress on suburban roads but also bring forward the development of the homes and employment centres we need to support a growing population in the years to come.

“Additional benefits will be seen in the form of improved road links with an emphasis on public transport, helping to boost the city centre economy and making the area as a whole an enticing prospect for skilled workers. The final piece of funding for the NDR means we’re in the exciting position of being able to realise all these benefits for both the city and county.”

If you have any comments or questions about the NDR or accessibility to Norwich issues, we would like to hear from you. Please email: nova.fairbank@norfolkchamber.co.uk

Chamber welcomes new Enterprise Zones for Norfolk

The Chancellor announced today (Wednesday 25th November) that New Anglia Local Enterprise Partnership and its local authority partners have secured one of the Government’s prestigious new Enterprise Zone sites for Norfolk and Suffolk, which will help to create 18,500 jobs in the 25 year lifetime of the zone, including 5,000 jobs by 2021.

And in a double success a bid to extend the existing Great Yarmouth and Lowestoft (New Anglia) Enterprise Zone, has also been approved which will mean space for an additional 30 businesses and deliver a further 1,219 jobs.

Enterprise Zones deliver a wide range of benefits to companies including a business rate discount of up to £275,000 over five years, simplified planning and access to Superfast broadband. More than 60 bids were submitted to Government from across England with 26 new and expanded Enterprise Zones announced today.

The successful bids were announced as part of George Osborne’s Autumn Statement. The new zone will be developed across 10 locations in Suffolk and Norfolk, under the theme of “Space to Innovate.” Each site will focus on the counties key innovation sectors and supply chains where it has specialist expertise and knowledge. This includes world-leading agri-tech, food and health, offshore energy, ICT and digital and creative sectors and the development of the Green Economy.

The sites will act as a powerful magnet to attract new businesses, particularly overseas companies, looking to capitalise on the counties’ expertise in these sectors. The sites will also link with the region’s innovation centres, universities and the New Anglia Growth Hub to boost innovation, productivity and help to deliver high skilled jobs.

The sites, which will be ready for development in March 2016, are based in rural locations and smaller towns, as well as Ipswich and Norwich, to spread economic benefits across the two counties.

The ten locations are:

Norwich Research Park, Norfolk – a 25 hectare site next to the B1108, south of Norwich. Enterprise Zone status will help support spin-out businesses in the food, health and plant science sectors

Nar Ouse Business Park in King’s Lynn, Norfolk – a 12.4 hectare site on the southern edge of the town adjacent to the A47, that will link to the King’s Lynn Innovation Centre, currently under construction. This will stimulate new businesses and attract international businesses in the agri-tech, engineering and food production sectors.

North Norfolk

  • Scottow Enterprise Park in Coltishall, – a rural site of 26 hectares to the south of Scottow and Lamas Roads, where part of the site will have Enterprise Zone status to focus on businesses in the creative digital and low carbon sectors.
  • Egmere Business Zone – a 7.4 hectare rural site south of Wells-Next-The-Sea which will focus on the Offshore Energy sector. It is located close to the Sheringham Shoal windfarm and two further windfarms being developed off the coastline

Suffolk Business Park, Bury St Edmunds – a 14 hectare site on a new business park which will be developed to the east of Moreton Hall.

Greater Ipswich, Suffolk – a cluster of sites to support the delivery of the newly developed Ipswich Vision, the blueprint for the regeneration of the town.

  • Futura Business Park – a 10 hectare site to the east of the town to help focus on higher value and more productive sectors and prevent displacement of retail from the town centre.
  • Princes St – a 2.9 hectare office corridor which connects the railway station with the town centre and will focus on ICT, digital and professional services businesses.
  • Sproughton Road – a 14 hectare site between the A14 and Sproughton Road, in the Babergh district area provides excellent access to the A14 and huge potential for businesses in the agri-tech, food and health sectors as well as their supply chains
  • Waterfront Island – Two hectares of port land separating the Wet Dock from the tidal river with part of the Island given Enterprise Zone designation

Mill Lane Business & Enterprise Park in Stowmarket, Suffolk – a 17 hectare extension of the existing Food Enterprise Zone, located on the edge of the town, with strong links to existing local food manufacturers

The Enterprise Zone will also link with three new Food Enterprise Zones in Suffolk and Norfolk, which were announced in March 2015, and will create vital economic hubs for the industry. The Orwell and Gipping Valley Food Cluster in Suffolk and Greater Norwich Food Cluster in Norfolk, will increase collaboration between the food, drink and agricultural sectors, bring better connectivity to the supply chain and encourage greater links with skills and agri-tech research.

The extension to the existing Great Yarmouth and Lowestoft (New Anglia) Enterprise Zone, covers existing sites at Beacon Park and South Denes Energy Park in Great Yarmouth, and Mobbs Way and Riverside Road in Lowestoft.

This zone has been developed to help energy-related companies and their supply chain grow across six sites in Lowestoft and Great Yarmouth and has delivered more than 1800 jobs over 3 years.

The second round of Enterprise Zone bids was announced by the Chancellor, in the summer. The Norfolk and Suffolk bid was submitted by New Anglia LEP in September 2015, working in close partnership with local authorities and other delivery partners.

Caroline Williams, Chief Executive, Norfolk Chamber said: “Norfolk Chamber has been lobbying hard and supporting the business case for further enterprise zones in Norfolk. We are delighted that the Government has listened and created more opportunities for the business community to deliver economic growth and jobs within our region.”

Mark Pendlington, Chairman of New Anglia LEP said: “This is fantastic news for companies locally, nationally and internationally looking to capitalise on the expertise of the East – from world-class food and health research, our thriving all-energy sector and innovation in ICT and digital – this zone will be a magnet for inward investment, help create thousands of jobs and drive our productivity. A great boost for businesses and another great economic prize, deservedly won by Norfolk and Suffolk.”

Cllr Nick Daubney, Leader of the Borough Council of King’s Lynn & West Norfolk, said: This is excellent news for West Norfolk and I am delighted that our bid has been given the go ahead. Being designated as an Enterprise Zone will bring a range of benefits that will help to stimulate business growth and aid the removal of physical barriers to achieving that growth in the area – bringing more jobs and opportunities for the people of West Norfolk and beyond. King’s Lynn will be promoted regionally, nationally and internationally as a place to do business and that enhanced marketing will bring further investment which can only be a good thing. The new King’s Lynn Innovation Centre is on track for completion next year providing further support for business development. Exciting times for King’s Lynn.”

Cllr Graham Plant, the leader of Great Yarmouth Borough Council, said: “One of the borough council’s priorities is to work with partners to build on creating conditions for further private and public investment, ensuring the borough is best placed to capture growth and its benefits for local communities.

“The extension of the existing Enterprise Zone, which is targeted at the energy sector, is great news and will also be extending opportunities for businesses to relocate to and expand within the borough, which has prospects of sharing in £50bn of investment in energy in the East of England over the next 20 years, including in oil and gas exploration, gas platform decommissioning, nuclear, and offshore wind farms.

“This announcement reflects huge Government confidence in the regional and local economy. Beacon Park is already one of the most successful Enterprise Zone sites within the country, and we look forward to building on that success to date. The borough council would like to thank New Anglia LEP for their support.”

Chamber gives full reaction to Chancellor’s Spending Review

In a full response to the Autumn Statement and Spending Review, Caroline Williams, Chief Executive of Norfolk Chamber said:

On the apprenticeship levy:

“Although we finally have clarity over the threshold of the apprenticeship levy, it will hurt larger Norfolk businesses who will have to pay what is effectively a payroll tax. It is important that the delivery of the levy doesn’t undermine other types of vocational training, which could be better suited to some businesses. The priority must be delivering high quality apprenticeships, viewed positively by employers. Otherwise this is simply another cash cow from business that will not have the desired effect.”

On business rates:

“Extending the small business rate relief scheme will support businesses across the country while the broader shape of a reformed business rates system is determined. We will continue to work with the government to ensure that business concerns over our broken rates system are met.

“The Chancellor recognises that support of the business community is crucial in implementing a supplementary levy for infrastructure – this should be expressed through a ratepayers vote.”

On investment in infrastructure:

“Norfolk’s transport and digital infrastructure has been in dire need of repair for many years. Fixing our broken roads and railways and ensuring a world-class digital broadband network is a no brainer if the Government wants to support growth and boost productivity. The 50% increase in capital expenditure for transport is good news, but we sorely need the government to crack on and get building.

“There isn’t enough detail to show how the UK will develop a sustainable energy supply for the future.

On housing:

“A lack of affordable housing supply is a big issue for business, impacting on their ability to recruit and retain talent. It’s therefore reassuring that the Chancellor is prioritising housebuilding on a national scale, even if we’ve heard much of this before. It is imperative that the Government sets out further details on how these schemes will be implemented.”

On research and development:

“Increasing investment in science and technology is a boon to our dynamic businesses, especially in our thriving tech sector, so that they have room to grow. However, it is important that the move to replace grants with loans from Innovate UK does not reduce our dynamism in the global economy. Norfolk businesses must continue to feel empowered to evolve and expand, otherwise we risk being also-rans in the global race.

“We are pleased with the investment in health and energy research, as well as the protection of the science and research budget. This just one of the drivers necessary to maintain UK productivity – but it is equally vital that the UK does not lose its competitive advantage, and supports innovation by retaining our intellectual property.”

On supporting exporters:

“We await more details on the government’s future plans for investing in export support. Businesses need in-market support to enable them to break into new markets. Chambers of Commerce both in the UK and overseas are increasingly well placed to provide the help needed for those companies, especially SMEs who wish to trade the world with confidence.”

On Further Education:

“We are encouraged that the Chancellor has listened to the BCC call to protect adult skills funding for FE Colleges. A strong further education sector, which meets business needs, is crucial to boost productivity and make sure firms get access to the skilled staff they need.”

Chancellor invests in future of the economy

Responding to the Chancellor’s Spending Review and Autumn Statement, Caroline Williams CEO Norfolk Chamber said:

“Once again the Chancellor has used the tools at his disposal to create a Statement that the majority of Norfolk businesses will support. The OBR forecasts gave the Chancellor more room to move than was predicted, so this wasn’t the doom and gloom Spending Review that most people anticipated.

“We are delighted that the Chancellor has used this opportunity to listen to business on infrastructure, particularly on repairing our broken road network. This will help move people and goods more efficiently across the county, which will help Norfolk businesses to grow.

“Increasing investment in science and technology is important to our dynamic businesses, especially in our thriving tech sectors, so that they have room to grow. However it is important that the move to replace grants with loans from Innovate UK does not reduce our dynamism in the global economy. Businesses must continue to feel empowered to evolve and expand, otherwise we risk being also-rans in the global race.

“This Spending Review and Autumn Statement was about reducing our budget deficit and reshaping the state. It is right that the Chancellor continues to provide the nation with the headroom it needs to be able to weather the uncertain future without delay. Reshaping the state will in general be beneficial for the economy.

“However there are some things that only government can and should do, markets are imperfect and markets can fail. In those circumstances it is right that government intervenes in the best interests of the economy as a whole.”

China Britain Trade Expo 2016

China Britain Trade Expo 2016 is being held at the prestigious Queen Elizabeth II Conference Centre, London on 28 January 2016.

Focusing on high vallue trade opportunities between China and Britain, supply chain opportunities and best practice, this event will deliver an unparelleled environment to discuss the business opportunities.

China Britain Trade Expo 1016 incorprates a high profile conference schedule comprising of ministerial representation, business leaders from Britain and China, and trade experts specialising in this key market. Running alongside the main conference will be an interactive exhibition area and ‘Ask the Experts’ round table sessions – with the opportunity to pre book key meetins on a range of specialist subject areas.

BCC Members Registration Link

For any further information on the event please click here.

Chamber: Autumn Statement must provide clarity on apprenticeship levy

Ahead of the Chancellor’s Autumn Statement and Spending Review on Wednesday (25 November), the British Chambers of Commerce (BCC) demands greater clarity over the scale and scope of the government’s proposed apprenticeship levy.

In a letter to key Ministers, the leading business group has called on the government to address ambiguity over the levy, which has led many firms to put their investment and training plans on hold. The BCC is concerned that the apprenticeship levy is effectively an additional ‘payroll tax’ on large firms, to be used by government to reach its apprenticeship target.

Since the announcement of the levy, there has been no further information on how it will work, what the rate will be and how it will be set, or even a definition of what constitutes a ‘large employer’ responsible for paying it. This has led to huge disquiet among small-and medium-sized companies who fear that they may yet fall within the scope of this new tax.

The government’s levy is supposed to help tackle skills shortages reported by business. However, many companies of all sizes are concerned about the perverse effects this new measure could have on other aspects of business, such as cash flow and existing training plans.

Commenting on the BCC letter to key Ministers, Caroline Williams, Chief Executive of Norfolk Chamber said:

“Norfolk businesses are keen to support young people and they see apprenticeships as a key driver to delivering the workforce of the future. The business community is seeking clarity as to how the apprenticeship levy will work and many are putting training and investment in our young people on hold until they fully understand the implications of the apprenticeship levy.”

Also commenting, Dr Adam Marshall, Executive Director of Policy at the British Chambers of Commerce (BCC), said:

“Businesses want to tackle skills shortages and drive up productivity, but the apprenticeship levy risks having the reverse effect.

“A lack of clarity around the scope, rate and scale is having a huge impact on business confidence. Many firms have decided to put training and investment on hold, and are concerned about the knock on effects of the levy on their cash flow, existing training schemes, and the bottom line. It’s important that this levy doesn’t undermine other types of vocational training, which could be better suited to some businesses.

“While businesses back the government’s drive to boost apprenticeships, they have real concerns about the current approach. The government must focus on improving the quality of apprenticeships to make them more attractive to employers, and provide clarity on how they will be paid for as soon as possible.”

Local diversions during Postwick bridge closures

Further overnight closures of theoriginal bridge over the A47 at Postwick will take place next week to allow surfacing work to be carried out as part of the major junction works that are nearing completion.

The bridge will be closed to all vehicles from 8pm to no later than 6am on the nights of Monday 23 November, Tuesday 24thand Wednesday 25th. The next two nights (26th and 27th)may also be used if work has not been completed.

Traffic will be diverted via the new bridge over the A47 and the Postwick Hub access roads. The A47 itself will not be affected beyond the normal restrictions through the Postwick road works.

The off-peak closure of the old bridge to southboundtraffic will continue through next week between 9.30am and 3.30pm.

Norfolk County Council apologises for any inconvenience caused by these closures.

Companies urged to go global

UK manufacturing companies can benefit from a new guide aimed at increasing awareness of the benefits and opportunities of exporting.

Britain’s global adventure: The export opportunity highlights the experiences of four manufacturing companies that are successfully exporting.

Published by EEF, the manufacturers’ organisation, to coincide with the launch of the Exporting is GREAT campaign, the guide also emphasises the range of Government support available to help potential exporters.

Among the four companies featured are BM Catalysts, which manufactures catalytic converters and diesel particulate filters, and Naylor Industries, which makes a range of building and construction products.

The latter exports to 65 countries, with exports making up about 10% of its sales.

Chief Executive Officer Edward Naylor says that trade shows are one of the main ways the company secures overseas orders, and that trade missions are critical for understanding a country’s export potential.

The experiences of contract manufacturer of orthopaedic instrumentation Sheffield Precision Medical, and precision measurement equipment manufacturer Third Dimension Software are also highlighted.

With exports now accounting for 86% of Third Dimension’s turnover, John Kane, the Bristol-based company’s Chief Business Development Officer, described exporting as a real success story.

In his experience, Mr Kane said, there are a lot of resources available to assist companies with exporting, but awareness of them is low.

“If manufacturers realise that there is help out there and they could go and ask for it,” he went on, “it would make a big difference to their ability to create an overseas footprint.”

The new guide not only explains the benefits of exporting, but also includes a Q&A section which aims to answer most of the questions commonly asked about exporting, including issues about resources, languages, market research, and foreign product standards.

The 52-page guide can be accessed on the EEF website

An Audience With Norfolk Schools

On Friday 20th November over 120 delegates joined the Norfolk Chamber for a morning of learning from and connecting with Norfolk Schools at Holiday Inn Norwich North. Delegates heard from seven different schools with the main focus being upon Simon Fox, Principal at Flegg High School and the Young Chamber Executive Committee from Aylsham High School.

The morning was kindly sponsored by one of our Gold Patrons – Norse, Justin Galliford from Norse spoke to everyone and explained how the key to finding good people in business is to bridge the gap between education and the work place. The event was hosted by Matthew Hudson, ITV Anglia, who took delegates through a busy morning of icebreakers, breakfast, presentations, group discussions and networking. The delegates started with an appropriately themed icebreaker ‘First or Worst Jobs’ which got people thinking about their own career paths and started conversation with other delegates on their tables. We had some very funny results including collecting eggs on a chicken farm and hand modelling, overallit created a great atmosphere in the room.

After this it was then time to hear directly form the Schools, Simon Fox, Principal at Flegg High School spoke first about the challenges and opportunities in education, referring to education as a glacier as its slow moving but ever changing. He touched upon the issues that teachers face with the curriculum as subjects such as coding are becoming more common they are looking to the business community to guide their teachings. He emphasised that trust and communication between education and businesses is important in both directions as we can learn from each other.

Following this we briefly heard from the heads of local schools. Five school leaders joined us on stage to give us a quick overview of how they work with the business community; Steffan Griffiths from Norwich School, Fiona O’Hara from St Nicholas House Prep School & Nursery, Kirsty Von Malaisé from Norwich High School for Girls, Gill Hipwell from Harleston Cluster and Peter Collins from Reepham High School. We had a range of topics come up including careers fairs, work experience opportunities, organising a symposium for Women into Business, realising the worth of your local schools and connecting to young people before they make their GCSE choices at high school. All speakers had just 1 minute on stage to speak to the delegates, despite the short time slot we got some really valuable information from the speakers.

Our final speakers of the morning was the Young Chamber Executive Committee from Aylsham High School, who were introduced by one of their teachers – Emmalucy Auber, who also is head of the committee. The Young Chamber gave an impressive presentation which was highly praised by the audience. They explained what a Young Chamber is, what they get up to in Aylsham High School and when they work with businesses. Delegates commented that it was very good to hear directly from the students and hear their perspective about what really works when connecting business and education and how they have been inspired in the past by businesses.

For the last part of the event we handed the reigns over to the audience to get their thoughts, opinions and feedback on careers fairs, work experience and generally how to connect with schools. During the 20 minute session we had all delegates talking to the schools on their tables about how to move forward with what they had learnt in the event so far. The audience provided their feedback on post-it notes on a board and by the end of the 20 minute session we had a board full of ideas and an audience full of ideas and discussion.

To finish the event, our host Matthew Hudson selected a few of the feedback ideas and got the delegate to elaborate, giving the whole audience a chance to record other people’s ideas and input.

To readmore about the Young Chamber policy campaign, click here.

Chamber: Not enough action on broken business rates system

As the Department for Communities and Local Government revealed that the Treasury collected £21.6 billion in business rates in 2014-15, the British Chambers of Commerce (BCC) is calling on the government to take action to fix the fundamentals of a broken and outdated system.

In October this year the government outlined plans to devolve significant control over business rates to local areas, which would see local councils retain all the revenue they collect in rates, and gain new powers to vary rates in some circumstances.

For business, the focus on changing ‘who controls what’ is wrong – as the government has still failed to address deep-seated problems with the outdated business rates model. There is also no clarity on the status of small business rates reliefs that are currently due to expire at the end of this financial year in April 2016.

In June the BCC called for a new rates system that, while still property-based, had the following features:

  • a light-touch annual revaluation regime, to stop businesses being hit hard by an increase every five years;
  • the removal of plant and machinery, and micro-generation, from the ratings system, which discourages businesses from investing in their premises;
  • the permanent abolition of the annual uplift multiplier, which doesn’t take into account the performance of businesses; and
  • the publication of a business taxation review with forward plans for implementing a new regime with a reducing share of business rates revenue as a proportion of overall business taxation.

Caroline Williams, Chief Executive of Norfolk Chamber said:

“The current business rates system discourages investment in premises improvements, plant and machinery, and places a crippling financial burden on many Norfolk businesses.

“We are long overdue meaningful reform of the operation and administration of business rates. Norfolk Chamber welcomed the announcement of a review in the 2014 Autumn Statement, but a year later, ministers and officials are still reluctant to engage on matters of substance or offer clarity around the process and timings.”

Dr Adam Marshall, Executive Director of Policy at the British Chambers of Commerce, said:

“Reform of the business rates system has stalled. Ministers have focused too much on devolving rates powers, and too little on addressing the deep-rooted failings of an outdated and poorly-designed system that hits companies hard before they turn over a single pound.”

UK trade deficit still a cause for concern

Trade statistics for September show that the UK’s deficit on trade in goods and services was £1.4 billion in September. Published by the Office for National Statistics (ONS), the figure represents a narrowing of £1.6 billion from August 2015.

The ONS attributes the reduction to an increased trade in goods, with exports increasing by £0.6 billion to £24 billion in September. Imports of goods fell by £0.9 billion to £33.3 billion over the same period.

Overall, the deficit in trade in goods fell from £10.8 billion in August to £9.4 billion in September.

Despite the fall in September, overall figures for the last quarter (Q3) reveal a deficit on trade in goods and services of £8.5 billion. That represents a widening of the deficit by £5.1 billion compared with Q2.

For the trade in goods, the difference between the two quarters (April to June and July to September) was attributed to a £6 billion decrease in exports to £70.1 billion, and a £0.1 billion fall in imports to £102.3 billion.

Trade in services registered an increase in the deficit between Q2 and Q3 of £0.8 billion (hitting £23.6 billion), due to a fall in imports of 2.4%.

Commenting on September’s figures, the British Chambers of Commerce (BCC) Chief Economist, David Kern, said the quarterly picture was disappointing and confirmed the BCC’s assessment that the improvement recorded in Q2 was only temporary.

The UK needs a national strategy to help exporters, he added.

Details of the UK Trade statistics for September 2015 are available on the ONS website.

Cut spiralling tax administration costs

Ahead of the Autumn Statement next week, the Norfolk Chamber of Commerce supports the British Chambers of Commerce ( BCC) who has today (Wednesday 18 November) called for tax administration to be a key part of the government’s drive to cut regulation by £10bn this Parliament.

The BCC has written a letter to key cabinet ministers, calling on them to tackle the spiralling cost of tax administration that is holding back British business:

1. Reduce the number of changes to business tax rules by:

  • a) Making business tax administration changes subject to Regulatory Policy Committee scrutiny, which would ensure tax changes are properly assessed before being imposed on businesses;
  • b) Subject tax administration measures to the government’s ‘one in, two out’ rule, to make ministers think twice about making changes

2. Economic regulators in the UK are subject to a Growth Duty and regular reporting. HMRC should have to do this as well, given its sprawling impact on business and economic performance.

In its submission to the Spending Review, the BCC called for investment in HMRC support for business users, equivalent to the amount spent on improving enforcement. With HMRC recently announcing the restructuring of HMRC tax offices, the BCC further states that HMRC should simplify the tax system, promoting good compliance with tax obligations that would ultimately benefit both business and the Exchequer.

Commenting, Caroline Williams CEO Norfolk Chamber of Commerce said:

“The cost of complying with the UK’s ever-more complicated tax code has rocketed up the list of Norfolk business complaints in recent years.

“Ministers need to put a brake on the number of changes to tax administration and compliance rules, much as they have done with other forms of regulation in recent years.

“HMRC is under a lot of scrutiny from business and individual taxpayers at the moment, and rightly so. By taking steps to reduce the number and frequency of changes to tax rules, the government would at a stroke make a big improvement to the prospects for business.”