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The Autumn Budget

29th October 2026

The Budget comes at a critical time for businesses up and down the country but here in Surrey firms are continuing to navigate pressures on operating costs, recruitment and many other issues. The priority is clear, we need an approach that supports growth, encourages investment and gives employers the confidence to plan for the future. This briefing highlights the key Budget announcements for Surrey businesses and identifies opportunities and concerns that matter most to our members.

Business rates are a significant area of opportunity, particularly for Surrey’s high streets and hospitality sector. From April 2027, eligible retail, hospitality and leisure businesses will benefit from a real-terms freeze in business rates bills for two years, while the threshold for Small Business Rate Relief will increase, bringing more qualifying businesses into relief. However, the benefits will not be shared equally across the business community, with many firms in other sectors still facing substantial property and operating costs. The Chamber will want to see whether the changes deliver meaningful, sustained support for local businesses.

The Government’s is in the final stages of agreeing 10 new devolution agreements, including an elected mayor for Surrey. This presents an opportunity for Surrey with plans to give local and regional leaders greater control over funding and economic priorities, alongside progress towards a new devolution agreement for Surrey, could create scope for closer collaboration between businesses, councils and education providers. This could help target investment towards local infrastructure, skills, transport and business growth. However, the practical benefits will depend on the powers and resources ultimately agreed, how effectively local priorities are translated into action, and whether businesses have a meaningful voice in shaping decisions. Read more here

Finally, changes to capital allowances offer a potential incentive for investment. Increasing the main First Year Allowance from 40% to 50% could improve the upfront tax treatment of qualifying investment in plant and machinery, helping businesses modernise, improve productivity and expand capacity. However, the accompanying reduction in the main writing-down allowance rate means the overall impact will depend on the type and timing of investment.