“It is like letting the tyres down and then handing you a pump,” says James Nye, assessing the relief handed to businesses in John Healey’s first budget as chancellor.
The managing director of Norfolk’s Anglian Country Inns argues that the budget made a “couple of steps towards helping” but added more labour costs for already burdened companies.
Nye, who employs 500 people at the height of the season at its 10 venues across Norfolk and Hertfordshire, was among those business owners watching Healey carefully on Wednesday, after two previous Labour budgets under Rachel Reeves had loaded extra costs on to businesses.
Healey aimed to help high street operators by removing the business rates burden from more small businesses and limiting the rise in the minimum wage for younger workers.
The chancellor put a lid on increases to business rates, so they will only rise in line with…
