Last Friday, we had the honour of hosting the Spring Statement event for the Shropshire Chamber of Commerce. The event, held at the Chamber’s headquarters at Trevithick House on Stafford Park in Telford, brought together local businesses to discuss the key points of Chancellor Rachel Reeves’ Spring Budget.
Our expert team from DY shared valuable insights into the implications of the announcements, helping attendees understand how the changes could affect their businesses.
Sarah Crane, who led the presentation, said it was an excellent opportunity to reflect on the announcements and break down the key points, giving businesses practical advice on how to navigate the changes.
“We wanted to take businesses through the statement and look more closely at what the Chancellor had to say.
“We were delighted to be asked to lead the seminar and to see so many local businesses represented on the day.”
Sarah said the Chancellor had announced that no further tax cuts were planned, and the updated Office of Budget Responsibility predictions showed half the growth for 2025 compared to the Autumn predictions (1% vs. 2%).
“She confirmed the rollout of Making Tax Digital for income tax Self-Assessment for sole traders and landlords with qualifying income over £20,000 from April 2028 and pledged to help people back into employment – one in ten people of working age is currently claiming an incapacity or disability benefit.”
Sarah said the Government had committed to increasing defence spending to 2.5% of GDP – an additional £2.2bn of funding for the MOD.
“Of that, ten per cent will be committed to modern defence equipment, including drones and AI.
“There will also be a £2 billion investment in social and affordable housing and more investment pledged to HM Revenue and Customs technology to clamp down on tax evasion.”
Shropshire Chamber events and training manager Kelly Riedel said: “The Dyke Yaxley team delivered a morning of business-focused analysis, and members had the chance to ask questions that relate directly to their circumstances.
“The event also allowed enough time for delegates to make the most of the networking opportunities available as they met other business people from across the county.”
Sarah Crane, Associate
