Insights from our President, Adam Budworth, July 2024

At the time of writing, I was reflecting on comments made at the start of my tenure as President of Chamber, whereby I spoke in a somewhat light-hearted fashion about the fact that the UK had seen 3 different Prime Ministers since I took up post.  Fast forward to the present day and we are on the cusp of potentially seeing not only a new Prime Minister but a new political party in Britain’s most sought-after seats.  We have witnessed a great deal of uncertainty and a lack of collaboration across the water, when it has been needed the most. This is something we have and will continue to avoid at Chamber.   We pride ourselves on encouraging effective dialogue between all stakeholders for the betterment of the Island. 

As we joined together to commemorate the bravery and celebrate the legacy of the D-Day generation 80 years on, it was impossible to compare the challenges we have now to those endured by the veterans, however we must approach our challenges with the same fortitude, sense of pride and belief that we can overcome the political and economic hurdles facing us.

Government has announced its proposal to increase the statutory minimum wage.   The Common Strategic Policy included the Transition to a Living Wage as one of its 12 priorities with the policy being approved by the States Assembly with a vote of 42 for and 2 against.  It will remain to be seen how this key change will affect businesses across all sectors, and as you would expect, Chamber is heavily involved in these discussions with Government on your behalf.

We have asked Government for clarity on the Living Wage roadmap and potential support measures being put in place to assist businesses navigate through what is an already turbulent time for many industries.   We need to ensure that there is clarity around the calculation and mechanics involved and that data is reliable and current.

Public expenditure continues to rise, and we persist in our efforts to persuade Government to exercise control from within all departures and not  just rely on the Treasury Minister to hold a tight reign on the purse-strings. It is too soon to predict how the political and economic landscape in the UK following the July election will impact on Island life, however Chamber will continue in our pursuit to continue with positive and effective communication with all relevant parties to weather whatever storms we might face.

As we head towards the summer break, I would like to take this opportunity to sincerely thank our Committee Chairs and House Committee for their continued support, including Daphne East for her invaluable assistance as Vice President.  Particular thanks must go to our CEO Murray Norton, for his unwavering commitment and passion which undoubtedly contributes to Chamber being held in such high esteem by our members.