In this month’s update, we have included a detailed summary of the key points from the mini-budget presented by Chancellor of the Exchequer, Kwasi Kwarteng MP.
In relation to the ‘cost of living’ crisis, severely impacting businesses, individuals and families, we continue to call for Government intervention and have engaged in a series of meetings with local MPs and MLAs to appeal for action.
We will be hosting a webinar with Richard Ramsey, Chief Economist, Ulster Bank NI in the next few weeks which will cover the announcements made by the Chancellor in his mini-budget and the key factors contributing to the ‘cost of living’ crisis. We will publish details in the coming days and a link to register for this important webinar.
We would like to thank everyone who participated in our Employee & Team Awards which took place in front of over 440 attendees in Canal Court Hotel & Spa, Newry. Thank you to our 21 category sponsors for your generous support, without which, the awards could not happen. You can view the winners and read more below.
Over 200 people have booked their place for our President’s Banquet which takes place on Friday 21st October 2022 (12 noon – 3:30pm) at Canal Court Hotel & Spa. This year’s theme is ‘City of Celebration’ marking 20 years of city status for Newry. Keynote Speaker, Jayne Brady, Head of NI Civil Service.
We are delighted to partner with Southern Regional College for a breakfast event on Wednesday 5th October 2022. We will discuss the current skills challenges facing all sectors and how SRC can help businesses future proof their workforce. This is a great opportunity for members to engage with SRC to hear how they can help you.
If you would like to discuss any issue, please get in touch with the Chamber team.
Tony McKeown
Chief Executive Officer
Newry Chamber of Commerce & Trade
GROWTH PLAN 2022: WHAT IT MEANS FOR YOUR BUSINESS
The Chancellor of the Exchequer, Kwasi Kwarteng MP presented his Growth Plan 2022 announcement on Friday 23rd September 2022. Please find a summary of the key points from the mini-budget below:
ENERGY COSTS:
Energy Bill Relief Scheme will reduce wholesale gas and electricity prices for all UK businesses, charities and the public sector like schools and hospitals. A similar scheme will be established in Northern Ireland, providing a comparable level of support and we will provide further details on this as soon as it becomes available.
Energy Markets Financing Scheme will provide a 100% guarantee for commercial banks to offer emergency liquidity to energy traders.
INCOME TAX:
The basic rate of income tax will be cut to 19p from April 2023, a year earlier than previously planned. Currently, people in Northern Ireland, England and Wales pay 20% on annual earnings between £12,571 to £50,270.
The 45% higher rate of income tax will be abolished, so from April 2023 one single higher rate of income tax of 40% will be in place.
NATIONAL INSURANCE:
The increase in the National Insurance rate, brought in for this tax year, will be cancelled. The cut in National Insurance will take effect from 6th November 2022 at the earliest for most.
The planned increase in Corporation Tax to 25% from April 2023 will be cancelled and will remain at 19%.
READ FULL ANALYSIS HERE
NEWRY CHAMBER PRESIDENT’S BANQUET 2022
DATE: Friday 21st October 2022
TIME: 12 noon – 3:30pm
VENUE: Canal Court Hotel & Spa, Newry
COST: Members (£65.00 + VAT)
Bookings are coming in fast for our President’s Banquet which will take place on Friday 21st October 2022 from (12 noon to 3:30pm) in Canal Court Hotel & Spa, Newry.
The theme of this year’s event is a ‘City of Celebration’, marking 20 years since Newry achieved city status.
The Banquet is one of the highlights of the business year in the city, with more than 200 guests expected from organisations across the Greater Newry Area.
This is an event not to be missed as we also launch our inaugural Chamber President’s Awards in recognition of people who have made an inspirational contribution to the Greater Newry Area.
KEYNOTE SPEAKER:
Jayne Brady, Head of the NI Civil Service
BANQUET SPONSORS:
Ulster Bank and Canal Court Hotel & Spa
BOOK YOUR TICKETS HERE
NEWRY CHAMBER CELEBRATES BUSINESS CHAMPIONS
The very best employees and teams from the business community right across the Greater Newry Area were celebrated at our Employee & Team Awards 2022.
The ceremony took place at Canal Court Hotel & Spa on Thursday 8th September 2022, honouring achievements of 21 individuals and organisations.
The winners came from organisations of all sizes from start-ups to social enterprises, charities, family firms, right up to the major global players based here.
The Newry Chamber Employee & Team Awards could simply not happen without the generous support of our category sponsors and we would like to thank them all.
You can view the full list of winners via the link below.
VIEW WINNERS HERE
CONFERENCE: GET THE SKILLS TO LIVE LOCAL, GO GLOBAL
DATE: Wednesday 5th October 2022
TIME: 8am – 10am
VENUE: SRC Graduate Restaurant, Newry
COST: FREE
Delighted to partner with Southern Regional College for this breakfast event. We will discuss the current skills challenges facing all sectors and how the SRC can help businesses future proof their workforce.
Brian Doran, Principal & CEO of SRC
Brian will speak about the current challenges facing all industry sectors and discuss how the NI Further and Higher Education Colleges are best positioned to help companies create a skilled workforce.
Brian will also share his insights into the future of skills in the southern region and how the SRC will play an increasingly important role in delivering for the region in partnership with employers and stakeholders.
Lisa Cartmill, Marketing Manager at Re-Gen Waste
Lisa will share ReGen’s story of how they approach talent acquisition as well as their commitment to skills development and lifelong learning within the group.
BOOK YOUR FREE PLACE HERE
PROTECT YOUR BUSINESS ASSETS FROM CYBER THREATS
DATE: Thursday 10th November 2022
TIME: 8:30am – 10am
VENUE: Canal Court Hotel & Spa, Newry
COST: FREE
In partnership withLoughTec Ltd, this thought-provoking seminar will explore how to lessen the growing cyber threat and apply these concepts to your business.
Bringing together business leaders, industry experts and SMEs that have embraced technological change, this seminar will explore how you can mitigate against the growing cyber threat and how to apply these principles to your business.
A FREE Cyber Security Network Audit will be made available for all event attendees, giving you a detailed report of your cyber defence posture and how you can make improvements to lower the attack surface.
Seán McDermott, CEO & Co-Founder of LoughTec Ltd, an IT infrastructure company specialising in managed IT provision, remote working software and cybersecurity solutions will deliver a presentation at the seminar.
BOOK YOUR FREE PLACE HERE
HINCH DISTILLERY: AN DARA DUN CASK PROGRAM
OPPORTUNITY TO OWN A PIECE OF IRISH WHISKEY HISTORY
Dr Terry Cross would like to offer fellow Newry Chamber members the opportunity to share in the success of Hinch Distillery and has therefore released a limited number of 200 litre casks from its augural production of triple distilled single malt, ‘An Dara Dun’ cask program.
As part of the ongoing renaissance of the Irish Whiskey category across the globe, this once in a life time cask release allows individuals to share in a unique opportunity to own a piece of Irish Whiskey history.
A certificate of ownership is issued and as a member of the Hinch family, the cask owner will be given the opportunity to appreciate the maturing spirit over the years of maturation at tastings in the distillery.
For further information, please contact:
E: heather.mccracken@hinchdistillery.com
P: 07853 005 656