The UK Budget has raised fresh concerns over operating costs, transport pressures and investment behaviour, according to MHA specialists analysing the implications for businesses across Northamptonshire. While the Chancellor emphasised stability and long-term planning, several measures appear set to increase day-to-day costs for employers and consumers.
Anthony McFarlin, automotive specialist at MHA, said many dealers and fleet operators had hoped for a clearer commitment to stimulating electric vehicle demand. Instead, he warned that the new mileage-based charge for EVs, due from 2028, and the reversal of the 5p fuel duty cut from 2026, introduce additional uncertainty. “Dealers were looking for lower business costs and more money in customers’ pockets. Neither objective has been met,” he said. With capital allowances reduced and new annual charges on high-value retail premises, McFarlin believes pressures on margins will continue, particularly for those operating larger sites.
Fuel duty policy also received close examination. Andrew Thurston, customs duty senior manager at MHA, welcomed the extension of the temporary reduction until 2026 but noted that indexing fuel duty to RPI from 2027 will create steady cost increases for logistics operators and local businesses reliant on transport. The newly announced “Fuel Finder” system, designed to ensure retailers pass on reductions, may help transparency but will not offset the rising underlying costs. “It offers short-term relief, but the long-term trajectory remains upwards,” Thurston said.
With fuel prices relatively stable over the past two years, Thurston warned that businesses may underestimate the cumulative effect of duty increases once inflation is applied annually. He also highlighted the impact on households, noting that increased fuel bills will reduce disposable income at a time when consumer confidence remains fragile.
For investors and business owners, navigating the tax landscape remains a challenge. Dominic Thackray, independent financial adviser at MHA, said the decision to raise tax on non-labour income from 2027 will affect landlords, holiday-let operators and those relying on dividends or savings. He added that the reforms to ISA allowances introduce “unnecessary complexity” that may discourage new savers and first-time buyers. “This is about changing behaviour, not raising revenue — but the impact on confidence could be significant,” he said.
Across Northamptonshire, advisers say the Budget offers stability in principle but adds complexity in practice. Businesses will pay close attention to upcoming consultations, looking for clearer signals on the government’s growth plan and future fiscal policy.
