HTA: Budget Paints A Mixed Picture For Horticulture Businesses

In response to the Autumn Budget, the Horticultural Trades Association (HTA) Director of Public Affairs, Jennifer Pheasey, said:

“The Budget paints a mixed picture for the UK’s horticulture businesses, comprising 98% SMEs. The confirmation that employer national insurance contributions will rise, a 6.7% increase in the national living wage, adjustments to capital gains tax and ongoing changes in inheritance tax and property reliefs place additional financial pressure and uncertainty on many HTA members. These announcements come against a backdrop of other challenges, such as cross-border trade. We will examine the details of these measures and work with members to establish the full impact.

“Whilst much focus has been on tax rises, the government’s commitment to housebuilding and supporting investment is welcomed. We call on new homes to come with green spaces that are designed, delivered and maintained by UK horticulture. This must be an opportunity to boost UK businesses. We also welcome some continued relief on retail business rates, but we repeat our ongoing request to reform and fully review rates, including for our members in Scotland.

“We are also encouraged that our ask for action on retail crime, which accounted for a £16 million loss in turnover for HTA member garden centres in 2022, has been listened to with the announcement of effective immunity for low-value shoplifting scrapped and more funding to crack down on organised gangs targeting retailers.

“Maintaining consumer confidence amid the cost-of-living pressures is essential, and the government’s messaging encourages spending. However, it’s important to recognise the impact that economic uncertainty has had on household budgets and for our members, consumer confidence is crucial.

“Our sector delivers for the economy, environment, and health and wellbeing, which are significant challenges the government is currently grappling with and will only become more critical – Environmental Horticulture is uniquely placed to help with all three and therefore, investment in our sector will see returns across the UK. 

“As always, the devil is in the details, and the HTA will follow up with analysis and inputs to ensure our sector’s needs are understood, enabling the industry to flourish and contribute positively to the UK economy and growth.”

Source : HTA

Image : yotrak / iStock / 177837263

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