“What A Relief!” said Simon Richards, Finance Director of beam after the Chancellor’s Autumn Statement.

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Comment from Simon Richards, Finance Director of beam.

“It’s a great relief to our industry that the Chancellor has extended the 75% discount on business rates up to £110,000 discount for retail, hospitality and leisure businesses for a further 12 months. The saving that many of our members have been making has been crucial as they recover from the pandemic and they still need it for at least another year.

“The freeze on alcohol duty will also be valuable but the increase in the National Living Wage to £11.44 per hour and including 21 and 22-year-olds for the first time will add to costs.

“What was disappointing was that there was no support for investing in people.  We think control of apprenticeship funding should be given to the employer instead of the training provider as this would be a great help in developing apprentices.”