Banbury Chamber of Commerce has welcomed business rates support for the high street but warned that the Budget leaves employers facing difficult decisions over recruitment, investment and growth.

Lisa-Marie Mallier, chair of Banbury Chamber of Commerce, said the rates relief was welcome but needed to be considered alongside the wider costs of running abusiness.

She said: “Banbury’s independent shops, cafés and hospitality businesses give our town its character. The rates relief is welcome, but it needs to be seen alongside the wider cost of keeping a business running.

“April’s 3.9% minimum wage increase comes on top of existing employer National Insurance costs, energy bills and other overheads. Better pay matters, but businesses need the means to sustain it. When the cost of employing someone keeps rising, there is less room to recruit, train someone new or invest in expansion.

Lisa-Marie Mallier, chair of Banbury Chamber of Commerce and managing director of No Fluff Communications.

placeholder image — Lisa-Marie Mallier, chair of Banbury Chamber of Commerce and managing director of No Fluff Communications.

“The risk is fewer opportunities for the fresh talent businesses need. Making it easier to attract skilled people from overseas is useful, but employers still need to afford the role.”

Chancellor John Healey delivered the UK Autumn Budget on October 28, 2026, setting out the Government’s plans for taxation, public spending and the economy.

The Chamber also expressed disappointment at the reduction in the Business Asset Disposal Relief lifetime limit from £1 million to £500,000, due to take effect in April 2027.

Lisa-Marie said: “Business owners take risks, create jobs and often spend decades building something of value. Reducing the relief available when they sell weakens the reward for that commitment. Support for innovative founders is welcome, but ambition deserves backing across our business community.

“Moving affected business owners to more frequent Self-Assessment payments also needs careful handling. It may help some people budget, but bringing payments forward could put pressure on cash flow. The transition must recognise how small businesses operate.

“Banbury’s position on the M40 corridor gives us a strong platform for growth. Our businesses want to invest and create opportunities. Our disappointment is that the cumulative pressure on those employers remains.

“Government cannot rely on businesses to deliver growth without giving them the confidence and financial headroom to do it.”