- Published
Tourism and hospitality leaders have been reacting to this week's Budget.
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leaders → publish → Budget
Among the headlines in chancellor John Healey's first Budget on Wednesday were a £100 payment to help millions of households with energy bills, a VAT cut on electricity bills and a freeze on fuel duty, both extended to July.
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both → help → July
It also announced Devon would get an elected mayor in 2028 white Cornwall was included as the only area on a pathway to become a Foundation Strategic Authority.
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Cornwall → announce → pathway
Sue Jewell, chair of South East Cornwall Tourism Association and a holiday accommodation provider, said the budget "gave with one hand and took with the other".
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budget → say → other
As part of the Budget legal minimum wage is to rise by 3.9% in April
Jewell said: "I think it's tricky because actually I would believe that quite a lot of people in our business anyway pay over the minimum wage just to retain staff.
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lot → rise → staff
"However because of the cost we've cut back on staff.
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we → cut → staff
"Which is sad really because it's local people who could be having local jobs."
Dr Harry Pitts, senior lecturer in Politics at the University of Exeter's Cornwall Campus, said the £100 energy payment was one of the "small things to make life a little easier for some households in the immediate period".
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life → have → period
Anyone living in a home in council tax bands A to D in England, will receive a one-off £100 "Household Energy Payment", funded by extra tax on banks.
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Anyone → live → banks
The Budget announced the threshold at which high street shops start paying business rates in England was to be increased from £12,000 to £18,000, meaning businesses would pay no rates on properties with a rateable value below this level.
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businesses → announce → level
Toby Parkins, interim ceo at the Cornwall Chamber of Commerce, said he predicted this would benefit about 900 extra businesses in Cornwall.
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this → say → Cornwall
"For the small business that is a big win," he said.
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he → say → business
Helen Wylde-Archibald, from the Devon Chamber of Commerce, said she "welcomed some stability".
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she → say → stability
"The last two have been a bit scary for business," she said, referring to previous Budgets.
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she → say → Budgets
She added: "It doesn't necessarily give us all the conditions we want for full growth and strong growth, but the main thing was there was no broad base business tax rises and fuel duty remains frozen until July."
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duty → add → July
She said she didn't think there was enough in the way of announcements of more support for farming and food, and this had "an impact on the rural economy".
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this → say → economy
James Kittow, from Butcher & Grazier in Cornwall, said: "It just seems like we've been forgotten again.
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we → say → Cornwall
We're an industry that is ready, willing and able to help the country produce the food for the nation."
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country → help → nation
He added there was no change on inheritance tax for farmers.
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He → add → farmers
Since April, inherited farming assets worth more than £2.5m face 20% inheritance tax
"
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assets → inherit → tax
I'm looking to plan for a succession...
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I → look → succession
we want to keep farming, we want to keep doing what we love doing but if we're going to get hit on the other end of it then it does make you think twice about what is all this for, and it's just so sad for the future farmers that want to come into the trade
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that → want → trade
," he said.
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he → say → ?
Andrea Drew, managing director at Lander Mortgage Services, said the key announcement relating to housing was a scheme for first time buyers, and a a "First Time Buyer Isa".
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announcement → say → buyers
This is an account in which savers can build up a deposit, with the government topping up contributions of up to £4,000 each year with a 25% bonus.
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government → build → bonus
"The only negative I would say... on new builds, the housing market isn't just all about new builds, it's about existing property... because not everybody wants to have a new build property," she said.
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she → say → property
She added: "The other thing was about the increase in tax for landlords so, they're increasing the tax by 4%."
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they → add → %
She said she'd seen landlords who decided to sell their property because of the amount of tax but tenants couldn't afford to buy the homes.
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tenants → say → homes
"What tenants need is more homes to choose from, not fewer, and they can't solve the housing shortage by destroying people who are providing the housing," she said.
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she → need → housing
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