The Confederation of British Industry (CBI) has said that the UK government faces big decisions this autumn if it wants to stimulate economic growth.
The Confederation of British Industry (CBI) has said that following the recent government announcement on plans to increase national insurance contributions (NICs) to support social care, UK business is clear that the time for further business tax increases must end.
Firms who invest, which is essential to a high-growth, sustainable recovery should be rewarded by the government, the Confederation of British Industry (CBI) has suggested.
The business group has identified four key levers the government can use to get businesses investing more:
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Smarter taxation – reward those firms who invest; for example, stop punishing greening UK building stock through business rate increases.
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New skills for new markets – creating individual training accounts to access support more easily, for those most in need and/or out of work.
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Catalytic public investment – to speed up the development of major infrastructure projects, new industries, and cutting-edge tech.
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Market making – replicate the successes of offshore wind in hydrogen and other emerging industries and fundamentally rebalance UK economic regulation.