16 February 2017

Update

Businesses' priorities for the March Budget

Launching its submission for the forthcoming Spring Budget on 8th March, the CBI urged the Chancellor to prioritise stability to support productivity growth and future UK prosperity.

Businesses' priorities for the March Budget

The CBI has called on the Government to use the Spring Budget on 8th March to back businesses’ growth ambitions in order to build greater prosperity across the UK.

Click here to read the CBI’s Budget Submission

Publishing the CBI’s submission ahead of next month’s Budget, CBI chief economist, Rain Newton-Smith, welcomed the Chancellor’s move to one major fiscal event a year and called on Government to use this Budget to prioritise stability.

While the economy has shown resilience in the months since the vote to leave the EU, inflation is rising and growth is set to soften to around 1.5% this year.

Click here to register for the CBI’s post-Budget webinar

With uncertainty around the manner of our EU exit dampening investment and higher inflation eroding consumer spending growth, business is urging the Government to show that it is serious about supporting companies to invest and helping our regions and nations prosper.   

To help firms navigate the uncertain economic environment and improve productivity growth, the CBI has called for the Chancellor to take action in three areas:

  • Supporting firms in a more challenging and uncertain economic environment by tackling the outdated system of business rates;
  • Improving the attractiveness of the UK as a place to do business by improving the R&D tax credit system, and;
  • Focusing on education and skills to boost regional growth and productivity by a funding plan for high-value technical education.

For more information on the CBI’s Budget submission, please contact callum.biggins@cbi.org.uk