Shevaun Haviland, Director General of the British Chambers of Commerce, said:

“The Prime Minister rightly set out the importance of stabilising and growing the economy during his speech. Businesses stand ready to work in partnership with Government to reach those goals.

“Firms also wanted to hear an upbeat plan for the future, so it was encouraging to hear the Prime Minister talk of ‘light at the end of the tunnel’.

“We’ve consistently argued for reform of the Apprenticeship Levy and look forward to getting more detail on the changes announced today. It’s vital that any reforms give employers confidence to invest in the skills they need for the longer term.

“Businesses will be pleased to hear the Government’s commitment to getting more people back into work.

“It’s also welcome that planning reform and grid connectivity are priorities for the Government as they remain key blockers to business investment. But companies are now impatient to see delivery.

“The confirmation that GB Energy will be headquartered in Aberdeen is fantastic news for our Chamber colleagues and the wider businesses community in the North East of Scotland. We look forward to working closely with the Government on this important part of the net-zero transition.

“Firms will invest more if they see a clear long-term plan for the economy. If next month’s Budget and the launch of the Industrial Strategy are properly executed, they have the potential to be real catalysts for business growth.”