Traders' plea for stability as shopping spend falls

Eilis Scott, chief executive at Cromford Mills, says many people are holding back spending

Speculation ahead of the Budget has led to traders and shoppers at a heritage site in Derbyshire putting off spending, according to its chief executive.

Eilis Scott, chief executive of Cromford Mills near Matlock, which includes shops and offices, said people wanted to be able to "plan for our budgets going forward".

Chancellor Rachel Reeves is expected to increase a range of taxes when she makes her statement in the House of Commons at about 12:30 GMT on Wednesday.

Ms Scott added: "We are a charity as well as a trading arm and we've seen costs increase. We still have many visitors but many people are choosing or just not able to spend as much, so it's quite challenging."

Jess Gill's Cromford Mill Cheese Shop has been holding back on spending ahead of the Budget

Jess Gibbs, owner of the Cromford Mills Cheese Shop, said she had chosen not to spend as much on stock.

"The number of pre-orders we have from our customers is slightly down this year so I think a lot of folk are just holding on until they know what's going on," she said.

She said the Chancellor needed to focus on the "little people".

"We can't compete with the big chains and yet it seems we're all lumped in with the same amount of extra charges and all the extra money we have to find, and we just haven't got as deep pockets as they have," Ms Gibbs said.

Simon Edwards says the construction industry can help drive growth

According to reports, one suggestion to raise government tax revenue would be a charge on more expensive homes.

Simon Edwards, from Merebrook Consulting, which advises construction companies on environmental issues, said he was aware that there was money waiting to be raised as land prices rose.

"I would urge some level of caution in taking large measures which could upset the market," he said.

"But I do realise in the end, there's a huge amount of value in the economy which is in land and that needs to be tapped."

Mr Edwards is also focused on where taxation money is spent, with the government insisting it is used to stimulate economic growth.

He added: "We need measures which will support training in the construction industry, based on the fact that there are excellent careers, long-term careers, in that, and the output of a good and thriving construction industry is the homes that we need for people to live in."

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Business Secretary Peter Kyle said he was "sorry that people have been anxious" following Budget speculation in recent weeks.

Kyle said the speculation had been "as frustrating for me and the Chancellor as it has for everyone else," and described the Budget as "an important moment for our country".

"We will be trying to get a grip on the cost-of-living challenges that I know everyone is facing at the moment," he added.

"We will be protecting the NHS, and we will also be tackling the big difficult challenging issues we face with national debt, which of course accounts for one in every £10 we spend as a nation now."