Reeves Budget choices will determine success of UK's growth mission

"Businesses will judge the Budget a success or failure based on its ability to inject immediate momentum into a stuttering economy, and whether it gives firms and consumers confidence that the government has prioritised long-term prosperity over short-term thinking. Every decision made this month must be taken in the interests of the UK's growth mission, with action firmly focused on reform, simplification and alignment of incentives to boost business investment and job creation."

"The CBI has identified some immediate steps the Chancellor can take to chart a decisive path back to sustained growth in its latest Budget submission - with a focus on fast-tracking infrastructure, boosting competitiveness, upskilling our workforce and adopting technology and innovation. The government must also show it is ready to make the strategic decisions needed to take the country forward."

"That means accepting that hard choices must be made - without leaving the door ajar to further unwelcome tax changes in Spring. 'Death by a thousand taxes' is not a credible way to deliver a thriving, prosperous economy. With business tax at a 25-year high, firms are clear that they cannot endure a repeat of last year's cost raising Budget. The Chancellor has to be prepared to challenge party orthodoxy and take difficult decisions to deliver the long-term stability and growth the country needs."

Urgent, growth-focused Budget action is required to inject immediate momentum into a stuttering UK economy and restore business and consumer confidence. Policy must prioritise reform, simplification and aligned incentives to boost business investment and job creation. Immediate measures should fast-track infrastructure, enhance competitiveness, upskill the workforce and accelerate technology and innovation adoption. The government must be willing to make strategic, sometimes difficult choices, avoid repeated tax increases, and provide long-term stability. Firms face high business taxes and warn against cost-raising measures; a decisive, pro-investment fiscal approach is needed to secure sustained growth.

Read at London Business News | Londonlovesbusiness.com