Craft Bakers Association (CBA) has responded to the UK government’s announcement of the Autumn Statement and its impact on business, as the government announces its plans to tackle the cost-of-living crisis and grow the economy.
Main points in the Autumn Statement look at reducing the income tax threshold, fixing National Insurance threshold at UK£9100 until 2028 and increasing the Energy Profits Levy from 10% to 35% until the end of March 2028. In addition to this, a new, temporary 45% Electricity Generator Levy will be applied on returns made by electricity generators.
The government is planning to support businesses through freezing business rates for an additional rate, which the CBA has welcomed in the support it will provide to bakeries.
“The CBA welcomes the government’s plans to further support businesses through the freezing of business rates for an additional year. Despite this, the CBA is disappointed by the lack of clarity regarding further support for businesses in terms of the energy crisis and an extension to the energy cap,” commented Karen Dear, Director of Operations at Craft Bakers Association. “Many of our members will still be facing a significant rise in energy bills in the coming year and have been left with justified concerns following the lack of additional support provided by the government at this moment.”
“We will be continuing to liaise with the BIES (Department for Business, Energy and Industrial Strategy) to ensure our members’ concerns and needs are heard and accounted for with the hopes that long-term support can be provided to ensure their businesses can continue to operate,” she added.
This comes after the CBA and its members collaborated with Professor Emma Bell at the Open University in her study of bakery businesses in the UK with 50 employees or fewer. The study found, among other insights, 17% of small bakery businesses were founded at the start of 2020 and more than a third are less than five years old.
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