Staffordshire’s ceramics industry could benefit from a new £120 million national fund, while Stafford has been earmarked for £10 million and a devolution deal for Stoke-on-Trent and Staffordshire has moved closer.
But Staffordshire Chambers of Commerce said the Autumn Budget fell short of the action many businesses wanted to reduce costs and accelerate economic growth.
Chief Executive Stuart Elford described it as a “steady as you go” Budget, sending the right signals but lacking the big calls that would “really shift the economic dial”.
He said: “Most sectors will be pleased to have avoided any further taxes being piled upon them. But, overall, most businesses won’t notice this budget at all.
“Our key tests for the Chancellor were whether his plans would boost growth and ease costs for business. Many firms will have been hoping for a greater impact.”
The £120 million Ceramics Industry Support Scheme will support energy efficiency and decarbonisation, with the national fund due to launch before the end of 2026.
In Stafford, £10 million from the Growth Mission Fund will support refurbishment of the Market Hall and a business incubation hub for small and medium-sized enterprises, subject to approval of a final business case.
The Government also said it was in the final stages of agreeing a Mayoral Strategic Authority for “Stoke and Staffordshire”. Local consultation will be the key next step, with final arrangements still requiring agreement.
Stuart said: “We strongly support the transfer of real economic power to Mayors but for the potential of devolution to be realised, business must be given a seat at the table from the start, and every area needs the capacity and safeguards to benefit.”
Nationally, business rates measures will provide relief for many high street firms from April 2027.
The threshold for full Small Business Rate Relief will rise from £12,000 to £18,000 for qualifying retail, hospitality and leisure properties in England, taking around 70,000 more businesses out of rates altogether.
Pubs, social clubs and most live music venues will receive 35 per cent relief, up from 15 per cent, while qualifying retail, hospitality and leisure bills will be frozen in real terms for two years.
A new Founders’ Relief will offer qualifying founders of high-growth, innovative companies a 10 per cent Capital Gains Tax rate on up to £10 million of lifetime gains from 6 April 2027.
The Budget also increases the British Business Bank’s financial capacity by £5 billion and provides £15.4 billion of additional capital for the National Wealth Fund. Additional AI funding was also welcomed as an opportunity to help entrepreneurs start and scale up.
However, Chambers concerns remain over energy bills, access to finance and youth unemployment.
The British Industrial Competitiveness Scheme will cut electricity bills by 20 to 25 per cent for eligible energy-intensive manufacturers from April 2027. Mr Elford called for support to reach a wider range of businesses.
He also warned that a temporary increase in the bank surcharge could affect the price and availability of finance, adding to pressures on firms already operating on tight margins.
Stuart welcomed plans to use public procurement more strategically and reduce selected tariffs, but said delivery must give smaller firms a fair chance to win public contracts.
On skills, the Chambers welcomed £100 million for local apprenticeship services but said the funding had previously been announced and businesses had hoped for more action to tackle youth unemployment.
Stuart said: “The Chancellor clearly has a vision of where he wants to take the economy. But the only way this can happen is if he gets behind business by cutting their costs.”
