12 March 2015

  |  CBI Updates Team

Update

Budget should support UK Mittelstand

Ahead of the final budget of this parliament on 18 March, John Cridland and Katja Hall met chancellor of the exchequer George Osborne MP to present the CBI’s submission of the policies business wants to see prioritised.

Click here to read John’s letter to the chancellor

John and Katja stressed to the chancellor that he must use the budget to help small and medium-sized firms invest, grow and reach their potential, building on gains made in recent years and looking at ways to simplify the tax system.

Other key themes and policy recommendations contained in the CBI’s submission include making the Annual Investment Allowance permanent at £250,000 and reducing the tax burden in the North Sea to support investment and jobs.

John and Katja also reiterated the need for continued commitment to reducing the deficit, but urged that if there is to be a final ‘rabbit out of the hat’ from the chancellor it be used to enhance living standards and support lower earners. Here they pushed the key recommendations in the CBI’s Better off Britain report on boosting affordable childcare and raising the threshold for employee National Insurance Contributions.

A ‘budget special’ of Business Update will be published next week, providing you with the CBI’s take on what the budget means for business. In addition, the CBI will be holding a post-Budget webinar for members on Friday 20 March at 11am.

For more information on either of these items, or to discuss the CBI’s priorities in more detail, please contact james.nation@cbi.org.uk