What the Chancellor announced, where the CBI had impact, and what it means for your business.
Billed as the budget for growth with 110 growth measures, yesterday’s Autumn Statement made significant interventions that will support the UK economy.
Just three days after thanking the CBI and our members for our Autumn Statement submission, the Chancellor adopted three of CBI’s flagship policies: making full capital expensing a permanent feature of the tax system; introducing a competitive and simplified R&D tax credit scheme; and supporting grid connectivity. These are three large interventions that will support businesses and the wider economy not just in the short-term but will help to put the economy on a better footing in the longer-term.
So let’s unpack where the CBI, together with our members, really drove change.
Permanent full expensing
Since 2021, we've campaigned for full expensing – which allows companies to deduct 100% of qualifying plant and machinery costs from taxable profits – to be made permanent. And last week, we reiterated our commitment in a joint open let
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