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While the Autumn Statement on 23 November 2023, led by Chancellor of the Exchequer Jeremy Hunt was broadly welcomed by businesses in Wales and the UK, our director James Howells, with a fleet of over 150 vehicles was disappointed by the lack of announcement and clarity on fuel duty during the afternoon’s announcement.

It was later confirmed that there would be no change to the fuel duty freeze, meaning prices won’t suddenly increase at the pumps. He provided some additional thoughts to Business Live and said

While the increase to the minimum wage to £11.44 per hour, which comes into force in April, will be a huge blow to many British businesses, the full expensing business tax break being made permanent will definitely be a positive to those larger companies with money in the bank to spend on assets. The announcement for employees regarding the 2% decrease in national insurance payments will however be very much welcomed by our 270 strong team.
James Howells, Managing Director of Monex Group

To read the full article and other business’ opinions on the 2023 Budget, please visit the Business Live site here.

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