As the Chancellor’s Spring Statement draws nearer, Sinead Campbell, Head of Money, Debt and Quality at Advice NI, reckons that it may be something of a ‘non-event’ but it still leaves businesses vulnerable.
The organisation’s business debt service remains a lifeline to businesses across Northern Ireland, all navigating the complex economic headwinds they have been faced with in recent years. In 2025, the service advised and supported 136 businesses with debts of over £6 million.
Sinead said, “The Treasury has been very careful in terms of how it has positioned this year’s Spring Statement. It’s being billed as a ‘non-event,’ with very little fiscal changed expected to be announced.
“Instead, the emphasis is expected to be on an improving economy marked by stable growth and falling inflation. Any pro-growth measures are likely to focus on planning reform and targeted infrastructural investments, rather than any big incentives for business.
“So, for businesses, this expected “non-event” may come as a relief – some welcomed respite from more taxation. Let’s remember, announcements over the past year caused economic uncertainty, put key business decisions on investment on hold and made it more difficult to plan-ahead to turn a profit. This long-awaited predictability could become a form of economic stimulus by improving business confidence.
“However, we can’t forget the difficult choices many business owners have had to make in recent years, including insolvency. And, a non-event this may be, it still leaves the private sector without the adequate supports, incentives and leadership they need to thrive. Businesses need stability and confidence – unfortunately one restrained Spring Statement may not be enough to do that.”