US EditionSpring Statement Offers Little Comfort for Businesses, Says Cumbrian Accountancy Firm
Lamont Pridmore highlights no new tax or financial relief in Spring Statement while Office for Budget Responsibility cuts 2026 GDP growth forecast to 1.1%.
- Graham Lamont, chief executive at Lamont Pridmore, said the Spring Statement offered no immediate support for firms dealing with rising costs and no new measures to ease pressures.
- The Government emphasized stability, with the Treasury stating 'There is a clear determination from the Government to present a message of stability' — the update was not a major fiscal event, as promised in Labour’s manifesto.
- Amid rising wholesale gas prices and market unrest, businesses in Cumbria face higher costs, with Mr Lamont warning of delayed interest rate cuts worsening cash flow. 'At a time when conflict in the Middle East is pushing up wholesale gas prices and unsettling global markets, many had hoped for clearer recognition of the risks to the UK economy' — Mr Lamont said.
- With no new tax hikes, Lamont Pridmore advised businesses to stress-test cash flow, review pricing, and explore tax reliefs, emphasizing 'Professional advice and early action will make the difference if conditions deteriorate nationally or on a global scale' — Mr Lamont said.
- Looking beyond the Spring Statement, officials point to trade talks and reforms, as the OBR downgraded 2026 growth to 1.1% from 1.4%, with a forecast of 1.6% in 2026 and 2027.
11 Articles
11 Articles
News & Star
Spring Statement offers little comfort for businesses, says Cumbrian accountancy firm
Cumbrian accountancy firm Lamont Pridmore has criticised the Chancellor’s Spring Statement for failing to "ease mounting financial strain on UK companies".
Spring Statement leaves businesses exposed as global issues intensify, warns Grunberg
One of London’s leading accountancy firms, Grunberg, part of Xeinadin, has voiced concern after Chancellor Rachel Reeves delivered a Spring Statement that included no direct support for businesses and made only limited reference to the potential economic impact of escalating global conflict. The Office for Budget Responsibility (OBR) Forecast suggests modest growth in the years ahead and a gradual fall in borrowing. In more settled conditions…
Spring Statement leaves businesses exposed as global issues intensify, warns MJ Bushell
One of Brentwood’s leading accountancy firms, MJ Bushell, has voiced concern after Chancellor Rachel Reeves delivered a Spring Statement that included no direct support for businesses and made only limited reference to the potential economic impact of escalating global conflict. The Office for Budget Responsibility (OBR) Forecast suggests modest growth in the years ahead and a gradual fall in borrowing. In more settled conditions, those projecti…
Delivery On Economic Potential ‘Vital’ - Cambridgeshire Chamber of Commerce
Responding to the Chancellor’s Spring Statement, Shevaun Haviland, Director General of the British Chambers of Commerce, said: “Today’s Spring Statement confirmed that the UK economy is heading in the right direction, but a further acceleration is needed. “With GDP expected to grow well below two per cent a year until 2030, unemployment set to rise in the near term and net trade remaining anaemic there is more to do. “Crucially, the OBR’s inflat…
Spring Statement offers little comfort for businesses amidst growing international uncertainty, says Rotherham Taylor Limited
The latest Spring Statement has done little to steady the nerves of firms in Preston, with Chancellor Rachel Reeves declining to set out fresh measures to ease mounting financial strain on UK companies, according to leading accountancy practice Rotherham Taylor Limited. In calmer circumstances, the Office for Budget Responsibility’s (OBR) Spring Forecast might have provided a measure of reassurance, as would the Chancellor’s decision to leave th…
Chancellor’s Spring Statement offers little to incentivise business growth - East Midlands Chamber
East Midlands Chamber has renewed its call for supportive policies to encourage firms to invest following the Chancellor’s Spring Statement. The Office for Budget Responsibility (OBR) downgraded its GDP growth projection for 2026 from 1.4% to 1.1% but forecast an increase to 1.6% in 2026 and 2027, while unemployment is predicted to peak this year, before falling. East Midlands Chamber Director of Policy and Insight Richard Blackmore said: “Busin…
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