Reacting to the Autumn Statement Daniel Zeichner MP said:
“Today’s announcements are a series of hidden Tory tax rises that they weren’t honest enough to tell the British people about at the General Election.
Nurses will have to fund their own training, there will be council tax hikes to patch up the social care system that’s been starved of resources and more tax on employers to pay for apprentices.
I am deeply worried that the 17% cuts in the Business, Innovation and Skills budget will risk Cambridge’s and Britain’s leading role in science and technology.
Local companies have expressed alarm over the plan announced today to scrap research grants and replace them with loans. This will be a disaster for many high tech companies starting out. A significant loan on their books will make them technically insolvent and affect relationships with potential investors, presenting a major business obstacle.”