CBI director-general Carolyn Fairbairn meets with John McDonnell, shadow chancellor and Philip Hammond, Chancellor to discuss the upcoming budget.
Political engagement on the CBI’s Autumn Budget submission has taken centre stage in recent weeks with key meetings taking place in Westminster ahead of the chancellor’s statement on 23 November.
CBI director-general Carolyn Fairbairn met with chancellor, Philip Hammond. The meeting was very positive with a great level of details being discussed about the CBI’s Budget submission asks. Mr Hammond recognised the CBI’s emphasis on the need for infrastructure to be a priority and suggested that further projects would be announced in the forthcoming Budget.
Elsewhere, Carolyn also met with shadow chancellor, John McDonnell, to discuss the CBI’s economic outlook and policy recommendations ahead of Autumn Budget. Over the course of meeting, Carolyn highlighted that greater investment in education and infrastructure alongside reform to the outdated business rates system needed to be prioritised at Budget.
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CBI deputy director-general, Josh Hardie, met with the Chair of the Treasury Select Committee Nicky Morgan this week. In the meeting Josh highlighted that without a transition deal agreed by the time EU leaders gather in Brussels for the March summit, a total of 60% of businesses will have done the same. Josh and Ms Morgan also spoke about the need for the tax system to support UK competitiveness and the Committee’s ongoing inquiry into student finance that the CBI will be submitting a response to shortly.
Aside from engagement ahead of the Budget, last week the CBI also discussed the government’s response to the Taylor Review. The CBI’s head of employment, Matthew Percival, joining a new created advisory panel, which was chaired by BEIS minister, Margot James. The panel discussed issues ranging from employment status and the gig economy, to raising awareness about and the enforcement of workers’ rights. Matthew reiterated key points from the CBI’s submission to Matthew Taylor’s review, particularly the view of business that both flexibility and fairness are needed and that they can be complementary concepts.
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