With two weeks to go until the 2026 Autumn Budget on 28th October, East Midlands Chamber is calling on the Chancellor to prioritise five measures it says, if announced, would ensure the best conditions are in place for business and growth in the region.
The five points are based on the Chamber’s landmark document – The Framework for Growth – and follow extensive engagement with firms across the East Midlands through research, surveys, roundtables and direct consultation.
The five Autumn Budget asks outlined by the Chamber:
- Reduce the Cost of Employing and Investing
The cumulative cost of employing people, taxation, energy prices and rates are barriers to growth.
The Budget must:
- Reduce the cost of employment
- Creating greater certainty within the tax system
- Improve energy competitiveness
- Reform business rates
- Smarter Regulation to Unlock Growth
Regulatory and administrative burdens are a significant constraint on growth. Reducing bureaucracy would free up management time and resources that could be redirected towards customers, innovation, workforce development and expansion.
The Budget must:
- Reduce unnecessary regulatory burden
- Simplify employer engagement with education
- Create a more proportionate regulatory environment for SMEs
- Build the Workforce and Skills Needed for Growth
Skills shortages remain one of the most significant barriers to business growth across the East Midlands.
The Budget must deliver:
- Employer-led skills provision
- Technical and vocational education
- Leadership and management development
- Workforce productivity
- Support Trade, Innovation and Business Growth
International trade, innovation and productivity growth are critical to future economic success. Many SMEs need practical support to access export opportunities, navigate complex international markets and adopt new technologies.
The Budget must deliver:
- Export growth and market diversification
- Business innovation and productivity
- Better access to growth support
- Accelerate Devolution to Unlock Local Growth
Decisions on skills, transport, infrastructure and business support are most effective when made closer to the businesses and communities they affect.
The Budget must prioritise:
- Acceleration of devolution for Leicester and Leicestershire
- Prevent the area missing out on investment during the transition period
- Give business a stronger voice in economic decision-making
East Midlands Chamber Director of External Affairs Richard Blackmore said: “The Chamber’s message to Government is clear. East Midlands businesses want to invest, recruit and grow but they need Government to create the conditions that make growth possible.
“The Autumn Budget should focus on reducing business costs, simplifying regulation, investing in skills and accelerating devolution.
“Research and engagement with our members across the East Midlands has continually shown growth being held back by high costs, whether around employment, energy or business rates.
“Growth is also hampered by barriers like bureaucracy – the piles of paperwork that get in the way of accessing programmes, training, apprenticeships – we need simplification as few businesses have the resources to deal with reams of unnecessary admin.
“The skills gap needs addressing with investment, SMEs that export need greater support and devolution needs to be sped up so Leicester and Leicestershire can benefit from the growth opportunities presented by a Mayoral Strategic Authority.
“The Chancellor has an opportunity to unlock the full growth potential of the East Midlands – a region of makers, creators and excellence in innovation. With only a short time remaining until 28th October, the Chancellor must seize on that and enable growth by prioritising the five points we have submitted.”
To view East Midlands Chamber’s five asks for the Budget in full click here.
To view the Chamber’s Framework for Growth in full click here.
