Firms need more support to tackle challenges

East Midlands Chamber has said supportive policies that protect businesses from higher costs and increased paperwork must be prioritised, despite new figures showing a drop in the region’s unemployment.

Latest data from the Office for National Statistics revealed unemployment among over 16’s fell from 5% to 4.8% during April to June, while average total earnings growth across the UK for the same period fell to 4.6%.

Chief executive Scott Knowles said: “While falling unemployment and easing wage growth is a welcome sign for businesses, 4.8% unemployment among over 16’s is still too high.

“Pulling back on the intention to hire aligns with the general sense of fragile confidence firms are experiencing right now.

“The Employment Rights Bill needs to be changed before it gets Royal Assent – it’s filled with measures likely to increase the burden of paperwork.

“We’ve already written to the region’s MPs on behalf of our members, outlining amendments that should be made.

“The Government must ensure the Bill works for businesses, while the Autumn Budget must not further push up taxes and increase the level of challenges firms face.”