BUSINESS leaders in Bradford have welcomed announcements in the Budget to boost the high street and boost apprenticeships, but raised concerns over the economy’s “disturbingly weak” growth.

Chancellor Philip Hammond announced £675 million of funding to councils to draw up plans to transform and rejuvenate high streets.

The plans included development of unused commercial areas into residential property, to “help ease the housing crisis and bring footfall to small businesses”.

He also said all small businesses with rateable values of £51,000 or less will see their business rates bill cut by a third.

The apprenticeship levy for small businesses is also being halved, to encourage more firms to take on an apprentice.

Philip Hammond, said: “My Budget sends a clear message to the people of Yorkshire – your hard work is paying off and austerity is coming to an end.

“Thanks to our careful stewardship of the economy the public finances are in a much stronger position and national debt is falling.

“This means we have more money to invest in Britain’s future – boosting local services, supporting our high street, backing business and fuelling the economy.”

A spokesperson for the Bradford Chamber of Commerce said: “We know that a significant period of change lies ahead; that’s why the Chamber network this year, in its Budget submission, called for radical measures to enable business to meet the upcoming challenges facing the UK economy.

“Measures to boost investment, competitiveness and productivity are needed to embolden the UK economy ahead of and throughout the upcoming period surrounding Brexit.

“We welcome measures such as increasing the annual investment allowance, the package to stimulate high streets, including business rate relief, and encouraging SMEs to take on apprentices.

“Conversely, economic growth forecasts remain disturbingly weak, so this is a concern. It can also be argued that the statement lacked the bigger picture measures needed to drive the economy through Brexit, but some would say that’s an unreasonable criticism given the constraints in this area.

“Given our recent reports on local housing needs and employment land, we welcome the additional money for the Housing Infrastructure Fund, as well as extending the cancellation of stamp duty for first-time buyers.

“On the downside, increasing the National Minimum Wage by almost five per cent puts pressure on many employers because of the need to maintain differentials within the workforce.

“This is at a time when competition, price pressures and general constraints within the business community are quite testing.

“One policy decision we are still awaiting is on devolution. There is reference in the red book to extending the Transforming Cities Fund but, until our region gets progress on a devolution settlement, we remain disadvantaged.

“The Government needs to give our region the policy-making tools and powers it needs to fully contribute to the economy and decision-making. We therefore look forward to a renewed Northern Powerhouse strategy next year.

“We will scrutinise the red book further to give a more detailed assessment to our members and the likely impact on the business community and economic growth prospects.”

Bradford South MP Judith Cummins condemned the Budget announcement.

She said: “This Budget has failed to deliver for people in Bradford and across the country.

“The Prime Minister and the Chancellor have heralded the end of austerity - but this is nothing more than empty rhetoric.

“The Tories have failed to fix the fundamental weaknesses of the British economy - low growth, low investment and low pay.”

Bradford East MP Imran Hussain added: “The Chancellor wants to boast about how the economy is improving and jobs are being created, but I’d like to see him tell that to the people of Bradford who’ve seen none of the benefits and who are stuck in insecure, low wage jobs.”

Independent Councillor Adrian Naylor said the rate relief for high streets was a short term fix.

He said: “Five thousand businesses in Bradford will benefit from the reduction.

“It’s great news for small business owners in the short term, but in two year’s time, when business rates are the only source of income for Bradford Council, there is a danger the Chancellor is giving away money that would be used for public services.

“Will business rates go back up, or will the Council lose out?

“Anything that helps small business owners is a good thing, but it’s a short-term measure. The Chancellor needs to come up with a better way of taxing businesses than business rates.”