What businesses should take away from Andy Burnham’s Commons debut

For SME owners, there are a few points worth taking away:

→ Some sectors are set to receive targeted support, including a 20% cut in business rates for eligible pubs, social clubs and live music venues in England from April 2027.

→ Household costs remain a key priority, with VAT being removed from domestic electricity bills from October 2026 and the £2 bus fare cap being reinstated across England for 2027.

→ The Government says it will fund these measures through reprioritising existing spending and other savings, rather than additional borrowing.

→ The bigger picture will come at the Budget on 28 October. Further detail on tax, spending and the wider economic direction is expected then.
For business owners, the key takeaway is that there is still a lot of uncertainty around what comes next.

If you’re considering investment, expansion, refinancing or additional working capital, it can be tempting to simply wait for the Budget before making a decision.

But waiting is also a decision.

Lender appetite, pricing and the funding terms available to your business can change, and there’s no guarantee that waiting will result in better options.

At Kingswear Financial, we believe the sensible approach is to understand your options first, then decide whether the timing is right to proceed.

Know your options before you make your decision.