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| 'Budget is encouraging but there's uncertainty' | 'Budget is encouraging but there's uncertainty' |
| (about 4 hours later) | |
| Sophia Gaiqui is the co-owner of a gym near Derby which fully opened last month | |
| A new business owner has welcomed a number of announcements made during Wednesday's budgets, but has raised concerns on business rate uncertainty. | A new business owner has welcomed a number of announcements made during Wednesday's budgets, but has raised concerns on business rate uncertainty. |
| Sophia Gaiqui, 35, who runs Immerse Gyms in Little Eaton, near Derby, said she hoped for more from Chancellor Rachel Reeves on investment in mental and physical health. | |
| But the mother-of-two, who also helps out in schools, welcomed the Chancellor's announcement on tripling funding for breakfast clubs in schools. | But the mother-of-two, who also helps out in schools, welcomed the Chancellor's announcement on tripling funding for breakfast clubs in schools. |
| Ms Gaiqui said: "There’s been a lot of strain on people over the last few years - it is tough." | |
| Chancellor Rachel Reeves said the Budget would raise taxes by £40bn and announced an increase in National Insurance contributions for employers from April | Chancellor Rachel Reeves said the Budget would raise taxes by £40bn and announced an increase in National Insurance contributions for employers from April |
| The Chancellor has committed to increasing employers' National Insurance contributions from 13.8% to 15%. The threshold at which they have to pay it will drop from £9,100 to £5,000 - raising £25bn. | The Chancellor has committed to increasing employers' National Insurance contributions from 13.8% to 15%. The threshold at which they have to pay it will drop from £9,100 to £5,000 - raising £25bn. |
| But there's some relief for employers in that employment allowance - which allows companies to reduce their NI liability - will increase from £5,000 to £10,500. | But there's some relief for employers in that employment allowance - which allows companies to reduce their NI liability - will increase from £5,000 to £10,500. |
| Despite predictions Reeves might continue the freeze in income tax thresholds beyond 2028-29, she said that after that they would go up in line with inflation. | Despite predictions Reeves might continue the freeze in income tax thresholds beyond 2028-29, she said that after that they would go up in line with inflation. |
| Reacting to the Budget minutes after it finished, Ms Gaiqui said: “It’s good we’re putting more public funding into a range of things – there’s been a lot of strain on people over the last few years especially since Covid. People are having to work longer, children are out of the house longer. | |
| Ms Gaiqui is one of three that runs the gym which also includes Terry Mohr | |
| “I do think there is still a lot of improvement in terms of mental health and physical health is concerned – there’s long waiting lists and these need to come down fast. There needs to be more funding in preventative measures." | “I do think there is still a lot of improvement in terms of mental health and physical health is concerned – there’s long waiting lists and these need to come down fast. There needs to be more funding in preventative measures." |
| The personal trainer, who is also a weightlifting coach said they'll keep a "close eye" on the business rates announcement. The Chancellor said the 75% discount to business rates - due to expire in 2025 - will be replaced with a 40% discount. | The personal trainer, who is also a weightlifting coach said they'll keep a "close eye" on the business rates announcement. The Chancellor said the 75% discount to business rates - due to expire in 2025 - will be replaced with a 40% discount. |
| “As a small business, we’re family run, we’re local people putting blood sweat and tears into it. It’s tight, it’s hard we have to put a lot in to earn a salary from it but this is our passion," she said. | “As a small business, we’re family run, we’re local people putting blood sweat and tears into it. It’s tight, it’s hard we have to put a lot in to earn a salary from it but this is our passion," she said. |
| “There’s some encouraging things in the Budget but things could or will change again in a few years which means there’s a bit of uncertainty." | “There’s some encouraging things in the Budget but things could or will change again in a few years which means there’s a bit of uncertainty." |
| The Chancellor said she would triple the the budget for breakfast clubs to £30m | The Chancellor said she would triple the the budget for breakfast clubs to £30m |
| Ms Gaiqui said she helps out in schools in the Derby area as a cover teacher and added she has seen first hand the “pressures on the education system”, especially with pupils with special educational needs and disabilities (SEND). | |
| She also welcomed the Chancellor’s commitment to tripling the funding for breakfast clubs. | She also welcomed the Chancellor’s commitment to tripling the funding for breakfast clubs. |
| “It’s great more funding is going into schools, over the years it’s been very hard especially for teachers,” she said. | “It’s great more funding is going into schools, over the years it’s been very hard especially for teachers,” she said. |
| “My son was deaf until he was eight so I’ve seen at first hand just how hard they work with the budgets that they have and it seems impossible." | “My son was deaf until he was eight so I’ve seen at first hand just how hard they work with the budgets that they have and it seems impossible." |
| Terry Mohr said small businesses would be affected more by increases in wages and employer contributions in National Insurance | Terry Mohr said small businesses would be affected more by increases in wages and employer contributions in National Insurance |
| Get in touch | Get in touch |
| Tell us which stories we should cover in Derby | Tell us which stories we should cover in Derby |
| Co-owner Terry Mohr said the increase to £10 an hour for 18-20 year-olds could "backfire" on young people and suggested businesses could choose a more "experienced" worker instead for a £2.20 extra an hour. | Co-owner Terry Mohr said the increase to £10 an hour for 18-20 year-olds could "backfire" on young people and suggested businesses could choose a more "experienced" worker instead for a £2.20 extra an hour. |
| "Young people need to go out and work and learn valuable life skills - if small businesses can't afford to employ them, it's bad all round." | "Young people need to go out and work and learn valuable life skills - if small businesses can't afford to employ them, it's bad all round." |
| On National Insurance, Mr Mohr added: "We're not big employers per say but the increase in contributions from employers is a constraint on some to employ more people. | On National Insurance, Mr Mohr added: "We're not big employers per say but the increase in contributions from employers is a constraint on some to employ more people. |
| "It's a big worry for me you're effectively taxing people but businesses can recoup that later down the line - that could cause a reduction in employment." | "It's a big worry for me you're effectively taxing people but businesses can recoup that later down the line - that could cause a reduction in employment." |
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