CBI Wales responds to Welsh Budget announcements

Ian Price, CBI Wales Director, said:

“The Welsh Government is doing the right thing by putting Covid support and economic recovery at the centre of the Budget. Their continued engagement with business and transparent decision-making throughout the pandemic have done much to bolster confidence in challenging times.

“While investment in long term priorities like infrastructure will help to put the local economy on the path to growth, consumption and government spending alone can’t deliver the sustainable recovery we need.

“To achieve that, we need business firing on all cylinders and doing what it does best: investing, innovating and creating jobs.

“Covid support from the UK and Welsh governments has saved countless jobs and businesses across Wales, particularly in some of the hardest hit sectors. Avoiding a business rates cliff-edge in April would doubtless help many hospitality, retail and tourism firms – plus those in vital supply chains – to weather the months ahead.

“With jobs and livelihoods still in the balance, all eyes will be on the UK Budget for measures cementing short-term support, incentivising investment and setting out a path to sustainable growth over the longer term.”