The region’s business leaders give their views on what they would like to see in next week’s Autumn Statement

John Bryce, managing director of Birmingham-based commercial property specialist KWB: “I would urge George Osborne to take decisive action to help the commercial property sector. Currently the rates-free period stands at three months, which is very painful given the void periods being encountered before finding new tenants, and the substantial rent-free periods that persist today.

“For example, for five-year leases agents are expecting rent-free periods to be between 12 and 24 months. Increasing the rates-free term to 12 months would massively improve the occupiers’ cash-flow position.”

Brendan McGeever, corporate partner at law firm Gateley and chairman of the Midlands Region Committee for the Institute of Turnaround (IFT): “The Institute for Turnaround would like to see a number of initiatives addressed including tax incentives for small businesses planning to recruit staff to train and re-skill.

“An extension to government-backed loan guarantee schemes to help kick-start this key area of our regional economy would also help greatly.  We welcome the boost from the round of Regional Growth Funding, but it’s essential that inertia doesn’t set in and that these funds are disbursed quickly.”

Paul Wakefield, Corporate partner at Irwin Mitchell: “This November the Chancellor must feel like holding his head in his hands; I mean, where do you begin? On the domestic front it is difficult to conceive of where he might indicate further squeezing of individuals’ wallets and would I think be well advised to lay off with tax or duty increases affecting households.

“On the international front it will be interesting to see what he has to say about the ever circling financial transaction tax which is being widely and openly promoted in European quarters and looks set to lead to something of a showdown with Mrs Merkel and her Euro friends.”

Simon Jonsson, head of tax for KPMG in the Midlands:  "With difficult economic conditions both at home and abroad there are high expectations on the Chancellor’s Autumn Statement. There have been calls from business groups for the extension of NIC holidays for new businesses, the temporary re-introduction of 100 per cent first year allowances, removing the 50 per cent tax rate, and cuts to corporation tax beyond the announced 23 per cent rate.”

Alison Monteith, managing director of Jewellery Quarter-based commercial interior designers Monteith Scott: “My own view is very much that what they have done is say that they would stop construction of big projects but they haven’t understood that the knock-on effect inflicts serious damage all along the supply chain.

"We will lose all the skills as businesses go bust and people are made redundant. As the market picks up these skills won’t be there. There are no breaks for small businesses. They talk about it but there aren’t any. There is no incentive to employ people.”

Phil Roberts, managing director of Staffordshire-based fleet vehicle specialists Flexible Vehicle Contracts: “A reduction in the current VAT rate could give the economy the kick-start it so desperately needs. The Government made the wrong choice to increase VAT rather than National Insurance.

"Simply put, if I am a business owner employing staff that means I’m happy with the state of my business. It is effectively a tax on me employing staff and we need staff when we are doing well.”

Jon Bellfield, managing director of Worcestershire-based Barberry Developments: “Action needs to be taken urgently to reinstate tax relief on empty properties. The current legislation is holding back construction while inflicting serious damage on investors’ pension funds and companies unfortunate enough to have empty buildings.

"Most companies vacating buildings that they still have leases on are doing so probably because they are not in great shape due to the economic turbulence – so it can be seen as a tax on struggling businesses.”

Tim Andrews, managing director of Birmingham-based signs and graphics specialists Hollywood Monster: “We’ve had to work incredibly hard during the downturn. We’ve invested heavily in new technology and as a result we have managed to win new business.

“We’ve also been able to increase our workforce by 40 per cent, creating much-needed jobs. However, two sectors that we operate in have been hit very hard and I would urge the Government to do all it can to support the retail sector and try to kick-start construction projects. Both are vital to the economy and a huge number of suppliers, like us, rely heavily on these sectors.”

Ian O’Donnell, Warwickshire & Coventry chairman, Federation of Small Businesses: “The Autumn Statement must bring in measures to address the longer-term structural issues which are holding back enterprise and job creation. For small businesses to welcome the statement, they need to see clear evidence that policies already announced are having an effect on the ground. Too often, the impression is that good intentions are not translated into tangible benefits for businesses. 

“The FSB has put forward proposals for a NICs holiday for firms hiring young workers.  Not only will this help to stop young people becoming detached from the labour market, but would also target tax incentives at the firms that need them most.”

Nigel Wood, senior partner at Birmingham law firm The Wilkes Partnership: “I believe the Government should introduce a three month VAT holiday from December 1 this year. If VAT was reduced from 20 per cent to 10 per cent for a short time it would stimulate spending across many areas of the economy, such as retail, professional services, and business costs.

"This would not just stimulate the Christmas period but also the lean times in January and February. The VAT cut would also impact favourably on businesses as fuel costs would reduce, significantly reducing the cost of haulage. This could be the kick the economy needs.”