With the Budget and Comprehensive Spending Review (CSR) just around the corner, the CBI has warned against further rises in business taxation, saying it will dampen the economic recovery and undermine the government’s broader economic strategy.
CBI Director-General, Tony Danker and Chief Economist, Rain Newton Smith, made this point during a meeting with the Chancellor on Monday, where they emphasised the fragility of the recovery. They pointed to the challenges firms face across the country, including fuel and labour shortages, energy price rises and supply chain difficulties.
While business and government are united in their ambitions for the country, it is vital that the government does all it can to attract private sector investment. The government cannot will the ends and ignore the means to turbo-charge the economy.
As well as submitting a Budget and CSR submission into Treasury in September, the CBI has spoken loudly on the need to unlock a wall of investment,