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East Midlands Chamber News

Chamber Reacts To Full Coalition Agreement

The coalition government's commitment to deliver long-term stability to the UK economy has today been welcomed by the Derbyshire and Nottinghamshire Chamber of Commerce.

The move was announced this morning by Prime Minister David Cameron and his deputy Nick Clegg as they unveiled the coalition's full government agreement.

Other key policies to support business, reduce the UK's deficit and secure the recovery announced today include:

  • Rolling back the planned increase in employers' National Insurance Contributions (NICs)
  • A pledge to cut red tape by introducing a "one-in, one-out" rule on new regulations; putting "sunset clauses" and regularly reviewing existing regulations and preventing the gold-plating of EU rules by Whitehall
  • Promoting small business procurement by introducing measures to ensure that 25% of government contracts go to small and medium-sized businesses
  • Introducing a "one-click" registration model to make the UK one of the fastest countries in the world in which to start up new businesses
  • Automatically applying Small Business Rate Relief to eligible companies

Commenting on the release of the agreement, George Cowcher, chief executive of the Derbyshire and Nottinghamshire Chamber, said: "The Chamber has campaigned hard on policies to create a better business environment and it is pleasing to see that the new government believes the business sector will be the key driver of growth as the economy recovers. What we wanted was a plan to create long-term stability and this agreement appears to go a long way towards achieving that aim.

"There are a number of measures included in this agreement which the Chamber welcomes, although the NICs increase should be cancelled in full to support business growth and job creation.

"The Chamber is also concerned about the plan to create Local Enterprise Partnerships to replace the existing Regional Development Agencies, as we are fully supportive of the East Midlands Development Agency. The government has said these may take the form of existing RDAs in areas where they are popular and the Chamber would urge it to bear this in mind when it comes to the deciding the future of emda.

"The focus must now be on reducing the UK's unsustainable deficit without delay and creating a stable environment which promotes growth and job creation to ensure that the recovery continues and the economy moves away from consumption and the public sector towards manufacturing, exports, enterprise and innovation, which we hope will be addressed in the Chancellor's emergency Budget in June."

Click here to read the full coalition agreement.