CBI responds to Chancellor's speech at Labour Party Conference 2026

Rain Newton-Smith, CBI Chief Executive, said: 

“The Chancellor’s speech set out a strong vision for how a politics of hope can translate into stronger business confidence and, ultimately, higher living standards. 

“His commitment to fiscal discipline and recognition that it is a precondition for sustainable growth should provide reassurance to markets that the government is prepared to take difficult decisions to secure stable public finances. 

“Just as important was the recognition that business needs breathing space. Firms cannot invest, hire and grow if rising costs continue to absorb the headroom they need to do so. By linking the cost pressures facing business to the wider challenge of raising living standards, the Chancellor showed an appreciation that a stronger economy depends on giving firms the confidence and capacity to create jobs, raise wages and invest. 

“There was also a welcome focus on using the tools available to government to get growth moving. Smarter procurement, apprenticeships shaped around local economic need, and greater use of institutions such as the National Wealth Fund can all help turn public spending into private investment, stronger supply chains and growth in communities across the country. 

“The speech sent many of the right signals. The Budget now needs to turn them into action if we are to fundamentally change firms’ willingness to invest, take a chance on a young person, and scale a business here in the UK. That means delivering what the CBI has consistently called for, including bearing down on the cost of doing business, protecting the foundations for long-term investment, and removing the planning, infrastructure and regulatory barriers that hold back growth.”