Quick round up comments that IE has received via email;
Regulatory agility in life sciences must complement international trade commitments
Phil Pugh, Partner in the corporate team at UK and Ireland law firm Browne Jacobson specialising in life sciences, said: “Set against a backdrop of considerable global uncertainty, it is right that the Chancellor used the Spring Statement to reiterate the government’s focus on building economic resilience through stronger international partnerships with the EU and other key partners.
“However, international trade commitments alone will not deliver the government’s ambitions without a regulatory framework that is fit for purpose. For sectors such as health and life sciences, closer international alignment must be matched by greater regulatory agility.
“The MHRA’s ongoing consultation on the indefinite recognition of CE-marked medical devices is a step in the right direction, and we would like to see this complemented by streamlined approval pathways for low-risk MedTech and digital health innovations. Open markets and agile regulation must go hand in hand.”
PPPs may be required to renew hospitals, schools and transport
Craig Elder, Partner specialising in public procurement at UK and Ireland law firm Browne Jacobson, said: “As part of its overall growth strategy, the government may require a bolder and more ambitious infrastructure policy – potentially backed by private finance from government.
“To date, the applications in which public-private partnerships (PPPs) may be used – community healthcare and local decarbonisation – remain relatively narrow. It will be interesting to see whether this remains the case.
“Our ageing roads, railways, hospitals, schools are prisons are in clear need of renewal. A tight public purse means private sector investors and skillsets are an option that could be harnessed if we can learn from the lessons of PFI and develop improved models.
“Creating a long-term pipeline of new social infrastructure developments would also ramp up ailing construction activity and boost a stagnant economy.”
SIMPLY BUSINESS SEES SOLE TRADERS AND SMALL COMPANIES UNDER PRESSURE
Speaking in response to today’s Spring Statement, and drawing on Simply Business’s latest research into the UK’s small business community, Julie Fisher, UK CEO at Simply Business said:
“Small businesses are the backbone of this economy — supporting 16.9 million jobs and contributing £45.9 billion in corporate tax receipts last year. Today’s Spring Statement painted a picture of gradual economic improvement, but for small businesses and sole traders, the numbers tell a different story.
“Growth is slowing, inflation is still biting, and business rates are rising 10% from April’s revaluation. In a world of deepening uncertainty, stability matters — but the nation’s 5.7million small businesses and self-employed deserve better conditions for growth.
“Costs have surged for 82% of small business owners over the past year, yet only 12% are raising their prices in line with increased costs. Britain’s small businesses are acting as a shock absorber — protecting consumers from rising prices at the expense of their own survival.
“Behind the statistics are real people under real pressure. Nearly half say financial pressures are now affecting their mental health. When one in five are considering dipping into personal savings to keep the lights on, this stops being a business story and becomes a human one.
“With April’s cost increases still to land, the pressure is far from over.
“What gives me hope is their resilience. 86% of small business owners still love what they do. This is a sector that believes in itself and is asking to be backed. Give them stability, targeted relief, and a government that sees them. They won’t just survive. They’ll thrive.”
IEA SAYS OPPORTUNITIES ARE BEING MISSED
Responding to the Chancellor’s Spring Statement, Julian Jessop, Economics Fellow at the Institute of Economic Affairs said:
“The Chancellor sent a signal of “steady as she goes” today but what was really needed is a change of course.
“There is little sign that the government’s economic plan is working. In particular, the OBR’s forecasts for growth have been revised down and those for unemployment have been revised up.
“Inflation is at least projected to fall a little more quickly, but this forecast has already been overtaken by the surge in energy prices following the escalation of the crisis in the Middle East.
“The jumps in the cost of oil and natural gas could also mean that interest rates do not fall as much as hoped, leading to a renewed increase in the cost of government borrowing.
“More positively, the updated OBR forecasts show a small improvement in “fiscal headroom” since the November Budget. On paper, this means the government is still on course to hit its fiscal targets.
“But the margin for error is still wafer thin, and it may not take much more bad news to force the Chancellor to come back with even more tax increases in the Autumn.
“Today’s speech was light in three areas in particular.
“First, there was not enough acknowledgement of the part that the government’s own policies have played made in freezing hiring and driving up unemployment. The Chancellor does at least now seem to recognise that the large increases in minimum wages have harmed the job prospects of young people. But employers are still being burdened with additional costs through increased taxes and more regulation.
“Second, there is still no clear plan to bring spending under control, especially in the big ticket areas of welfare, pensions, and healthcare. Difficult decisions keep being put off, which is all the riskier given the need to increase the resources for defence.
“Third, energy policy is a mess. Renewables may or may not be the future, but for now the disruption in the supply from the Middle East has simply underlined the need to make more use of the reserves of oil and gas that we already have.”
EVERYWHEN ENJOYS RELATIVE LACK OF NEWS
David Williams, head of group risk at Everywhen, comments:
“Today’s Spring Budget delivered no new announcements directly affecting employee benefits, a move that was widely expected and consistent with the government’s intention to avoid major policy changes in the Spring update. While we hoped for minor tweaks to help support employers and employees, the absence of change also brings a welcome period of stability for organisations who are still planning their benefits strategies around bigger changes announced over the last 18 months.
“Encouragingly, the broader economic backdrop continues to improve with lower inflation and interest rates. With this improved environment, many employers may feel better placed to invest in their people now or as part of future budgeting later this year – strengthening reward, wellbeing, and benefits packages. So, while no news is good news right now, it is important for the government to combine an improving outlook with momentum generated by activity such as the Keep Britain Working report and start to build future policy decisions around recommendations that can improve the productivity of the UK through healthy workforces.”
MEDIOCRITY IS THE NEW NORMAL
“Rising geopolitical tensions make decisive economic leadership even more important. With heightened global uncertainty and renewed pressure on fuel and energy markets, this was a moment for the Chancellor to show businesses how she will ‘step up’, and not ‘stand back’. Stability is welcome, but now we need acceleration. We can’t just sit tight for another six months.
The Autumn Budget gave founders hope, particularly with the ‘Call for Evidence on Tax Support for Entrepreneurs’. That consultation closed on 28th February, and what scaleups needed today was an immediate package of measures to help them power ahead. There is clear pent-up capacity for growth in the UK economy. Founders are ready to hire, invest and expand, but that potential will only be unlocked if both consumer and business confidence improve.
The Chancellor has missed a trick by not bringing forward new policies. Without decisive action, she risks stabilising at mediocrity. Britain’s fastest-growing small businesses are capable of delivering far greater economic impact, but momentum will stall if ambition isn’t matched with policy.
Skilled people are a vital ingredient required to scale, yet building teams has become harder at precisely the moment we need businesses to create new employment opportunities. Founders have been clear: simplify the system, reward long-term growth, and make it easier to hire. Time-limited Employer NI relief could transform job creation across the SME ecosystem. Instead, the cost per hire has risen sharply, while inflation and tighter margins have squeezed room for expansion.
When capital markets are cautious, individual investors need a nudge. Extending incentives like EIS/SEIS for follow-on growth rounds would also have sent a strong signal. More deliberate investment into high-growth companies — particularly those led by women and underrepresented entrepreneurs — is essential.
Acceleration won’t come from waiting until autumn. It will come from the Government proactively creating conditions for calculated risk-taking and from capital backing ambition. Align those incentives, and the UK can move beyond stabilising — and start scaling.” Mr North has called for the Chancellor to attend SCALE SUMMIT & EXPO on 22-23 April, to unveil her plans for growing businesses, and witness first hand the value creation that goes on every day in the scaleup community.
ATRADIUS WELCOMES “BORING” STATEMENT
Presenting her statement against a backdrop of extreme global uncertainty today, the Chancellor stuck to her pledge of no tax changes. Growth for 2026 has been revised down slightly, but the government maintains a positive longer‑term outlook.
As a reminder, recent Autumn Statements introduced important tax changes coming into effect over the next few years, many from April 2026.
Key measures include:
- The freeze on Inheritance Tax and Income Tax thresholds has been extended to April 2031
- From April 2026, the 100% rate of Agricultural Property Relief and Business Property Relief will only be available on the first £2.5m
- From April 2026, the basic and higher rates of tax on dividends will increase by 2%
- Business Asset Disposal Relief (BADR) will increase to 18% from April 2026
- From April 2027, the basic, higher and additional rates of tax for savings and property income will also increase by 2%
- From April 2029, employee salary sacrificed pension contributions above an annual £2,000 threshold will no longer be exempt from NICs.
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