Reaction: What does the autumn statement mean for Nottingham?

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Picture: Natesh Ramasamy

George Osborne delivered his autumn statement with a focus on ‘rebuilding Britain’ – but will it bring growth to Nottinghamshire?

The headlines were that cuts to tax credits have been scrapped, a total of £20bn of cuts are to be made in other areas and that Government borrowing has been forecast to stop by 2019.

But what do the key measures announced today mean for the city and county? Here we look at the winners and losers.

The regional economy

moneyDavid Ralph, chief executive of the D2N2 Local Enterprise Partnership (LEP), is responsible for supporting economic growth, creating private sector jobs and promoting innovation and entrepreneurship within Nottinghamshire and Derbyshire.

D2N2 is one of the largest organisations of its kind in England, covering an area of over two million people.

  • Positives: No police force cuts
  • Negatives: Not enough mentions of the Midlands in the statement

It was interesting to hear about devolution

David said: “The investment given within the development and research within science is very welcome.

“It was very interesting to hear about the importance of devolution and the powers that those with an elected mayor will have.

“For example, his comment about the ability to increase council tax within local authorities is significant.”

Nottinghamshire and Derbyshire are considered to be close to agreeing a devolution deal with the Government.

CaptureFamilies with children

Bulwell mums Lauren Lancaster and Dee Bonsior (pictured right) both benefit from tax credits and both support their families on tight budgets.

  • Positives: Plans to cut tax credits abandoned
  • Negatives: But uncertainty over universal credit, which will replace the benefit long-term

Dee said: “Tax credits are very important to me, I’m a part-time worker with a family and without them we wouldn’t be able to get by. My wage barely covers my rent, car insurance, food and bills.

“I suppose for the time being it is positive, but something always seems to come up about something being cut. You never really feel secure to be honest with you.”

Lauren added: “Without tax credits I wouldn’t be able to feed and clothe my daughter as much, we do rely on them quite a lot.”

Local research and development

Head of UK medical sales Ross Huntley is part of a company based in Kirkby-in-Ashfield that develops, markets and researches advanced wound care products.

Advancis Medical has been working with international experts, patients and carers.

  • Positives: More than £5bn is being invested in healthcare research
  • Negatives: Unsure of where the £22bn efficiency savings in the health sector will come from

Where will the savings come from?

Ross said: “My big concern is where will the savings come from?

“The savings may result in patients needing both primary and secondary sectors of care in order to be helped in the way that they require.

“Problems with lower limbs could result in amputation which then puts an added strain upon social care and independence for an individual, which makes the reality of this quite significant really.”

Growing businesses

Georgina Ponsford is the HR manager of Tottle Farm in the newly re-named Addo Food Group, based on the Queen’s Drive Industrial Estate in Nottingham.

Tottle Farm itself is based in Melton Mowbray and produces Melton Mowbray pork pies.

  • Positives: Forecasts made of an increase in the amount of disposable income for individuals
  • Negatives: Living wage

The biggest impact will be the living wage

Georgina said: “The biggest impact for us is going to be the implementation of the living wage (to be £9 an hour by 2020).

“It’s going to be difficult for us as quite a few of our workers are currently under the living wage and as a result, others will want a ratio to go up; in other words, why am I not getting more?

“In addition to this, there has been no mention of how we will be supported during this.”

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