Bold and urgent action on business investment is required to secure growth

Europe is in crisis and the CBI remains deeply concerned about the lives of Ukrainian citizens. In this tough period, the CBI has been heartened by the actions of members to mobilise support across the UK and adapt with haste to government sanctions. Businesses and government must continue to do what they can to help Ukraine.

At the same time, we must not lose sight of the UK’s structural economic issues. A backdrop of huge pandemic debt, upward pressures on public spending, and a concerning outlook for growth demands urgency. The CBI is calling for bold action from the government on business investment, to escape a post-pandemic low-growth trap and build a more resilient UK economy.

Pandemic debt and public spending pressures give special importance to the need to increase exchequer revenues. Bringing down debt to a manageable level is a necessary precursor to achieving the low tax economy the Chancellor recently outlined in his Mais