ONS Business Insights: “alarm bells" should be going off in the Treasury ahead of Spring Statement

EMBARGO: Immediate Release

Responding to the ONS Business Insights and Conditions Survey which found 14% of trading businesses expect their turnover to fall in April, up four percentage points on last year, Liberal Democrat Treasury spokesperson Daisy Cooper MP said:

“Alarm bells should be going off in the Treasury ahead of the Spring Statement. This is yet another set of damning figures that show the deep concern that businesses have over the impending national insurance rise on April 6th.

“Far from breaking with the years of Conservative economic vandalism, the Government has delivered yet more stagnation.

“At the Spring Statement the Chancellor cannot dismiss these warnings any longer. Rachel Reeves must announce she is reversing her damaging jobs tax set to hammer small businesses.”

ENDS

Notes to Editors:

The Survey can be found here.