Debate contribution: Autumn Budget
Debate contribution by Mr Conor Murphy on .
- MLA
- Mr Conor Murphy
- Party at the time
- Sinn Féin
- Date
- 2 December 2024
- Type
- Debate contribution (made as a minister)
- Business
- Oral Answers to Questions
- Heading
- Autumn Budget
- Assembly identifier
- Official Report component 4686676
Read the official Assembly record
Text
A Cheann Comhairle
, with your permission, I will take questions 7 and 8 together. The Budget contained a range of announcements that affect local businesses in a variety of ways, depending on the characteristics of each individual business, including its size, location, which sector it operates in and how it chooses to manage the new arrangements. The rise in wages for our lowest-paid workers is to be welcomed, but it has not been offset by a reduction in other costs. Indeed, it has been introduced in parallel with increasing employer National Insurance contributions, which will put many businesses under more strain, given the rising cost of doing business. There are measures in the autumn statement that present opportunities for local business, For example, there was the unpausing of the growth deals and support for key sectors such as life and health sciences, creative industries and aerospace and key elements of my economic plan, such as innovation, R&D and decarbonisation. There were, however, also very challenging elements to it, and it will take time to understand and to engage with businesses to see the full impact of the Budget on them.
191 words. Text as published by the Northern Ireland Assembly.
Assessment
Awaiting analysis
This record has not been analysed yet. It is not counted in any total until it has been assessed.
Disagree with this assessment?
Classifications can be challenged. A person reviews every challenge, and any change is recorded publicly above with its reason.