The Chancellor's Autumn Budget statement last week has delivered a severe blow to hard-working individuals and the business community across Essex, according to local MP Alex Burghart. The financial plan, unveiled by Chancellor Rachel Reeves, is being labelled as the 'worst of all worlds' for growth, hospitality, and employment.
Local Businesses Voice Their Struggles
On a visit to two distinct local enterprises last Friday, the MP for Brentwood and Ongar heard firsthand about the damaging repercussions. Joey Antwi-Kusi, who runs the McDonald's franchise in Brentwood, and Matt Bolton, the local entrepreneur behind the family business FourEighty in Shenfield, both reported being badly hit.
Despite their different business models, they face a common set of financial pressures stemming from the Budget. The key burdens include this year's rises in Employer's National Insurance contributions, the National Minimum Wage, and business rates. Furthermore, an expansion of the sugar tax to include soft drinks and milkshakes has added to their operational costs.
Job Losses and a Strain on Employment
The cumulative effect of these measures is now directly impacting the local job market. Business owners have informed the MP that they are being forced to let staff go or are choosing not to replace employees who leave. This creates a double blow: bad news for local employment levels and for residents seeking full or part-time work.
These new fiscal pressures compound the already high ongoing costs for energy and food, leaving many enterprises struggling to balance their books. The Chancellor's promise not to 'be coming back for more' and the Labour manifesto pledge not to raise taxes on working people have made the current situation feel like a betrayal to many.
Broader Impact on Low-Income Workers
Another contentious element of the Budget is the decision to freeze income tax bands. This fiscal drag will pull more low-paid individuals into paying income tax, a move ostensibly designed to help fund the welfare bill. For those just above the threshold, it feels like a direct tax increase on their earnings.
The sentiment from the ground in areas like Billericay, Brentwood, Hutton, Shenfield, and Wickford is one of deep concern. The Autumn Statement, intended to set the nation's financial course, is being perceived by local business leaders as a disaster that stifles growth, investment, and job creation at a critical time.
