Working with the British Chambers of Commerce
Most members will be aware that Essex Chambers is one of 51 chambers around the country affiliated to the British Chambers of Commerce (BCC). The BCC essentially works for and represents the network of UK chambers but is also connected to around 70 chambers around the world. They are resourced (better than any individual chamber, almost certainly) to do research and represent chambers’ views and concerns to government directly, as well as close study of government policies and their impacts.
But their effectiveness depends, among other things, on good lines of communication to local chambers and through them to businesses. We all therefore really value members responding to the Quarterly Economic Survey and you feeding in views, comments and reactions at any time on how your business is weathering economic conditions. It all helps to build a ‘real world’ picture that BCC can reflect back to government (they have regular meetings with the Chancellor and her team) on your behalf.
UK-EU Leaders’ Summit
There was generally welcome news coming out of the deal agreed at the UK-EU Leaders’ Summit, with Shevaun Haviland, Director General of the British Chambers of Commerce, saying:
“Today’s summit marks a turning point in UK/EU relations which puts our trade relationship at the forefront of our partnership going forward. For four years, businesses have fought hard to sustain sales to the EU in the face of a rising tide of costs and paperwork which has severely dented their competitiveness.
“A permanent deal to remove unnecessary checks on food and drink exports in both directions is a huge boost; it will cut costs, reduce waste and increase sales. It was also essential that a defence and security pact was agreed to involve UK defence companies in wider projects to safeguard our democracies. It is vital now that work starts on agreeing access to joint procurement funding.
“Making quick progress on the use of E-gates at passport control will make life easier for businesspeople who cross EU borders on a regular basis and also boost UK tourism.
“This summit also saw encouraging movement on other issues that have long been a thorn in the side of many firms. A commitment to focus on securing a youth mobility scheme and linking our emission trading schemes will make life simpler and less costly for many businesses.
“The BCC had seven key asks of Government going into these negotiations which were based on four years of research and analysis involving thousands of firms.
“Today’s deal is good news on five of those. But we must not stop here, this agreement must be the foundation on which we aspire to build a much stronger business relationship going forward. That can only be of benefit to all our economies.”
We at Essex Chambers will be interested to hear from any members their own reactions to the deal and whether it helps or hinders their business.
Inflation and other cost pressures on business
Inflation jumped to 3.5% in April, adding to the burden on businesses already facing pressures as a result of the recent national insurance hike, minimum wage rise and global tariffs. The latest research from the BCC shows that 55% of businesses expect to put up prices in the coming months.
The BCC position, which we support, is that businesses urgently need to see a clear tax roadmap identifying when the burdens of national insurance and business rates will ease. Furthermore, upcoming strategies on industry, trade and infrastructure must live up to business expectations and help drive investment.
Please contact our Head of Policy, Iain McNab, for any further information or support.