"Above all, the Budget cannot descend into political theatre. Businesses are weary of temporary headline-grabbing gimmicks, one-off schemes, and initiatives that disappear within months. These measures do little to improve business confidence and often add layers of complexity that hinder long-term planning. The Government still holds a very large parliamentary majority, and they have little reason to call an election until 2029 - they should use this political capital to enact long-term reforms that drive sustainable growth"
"The Chancellor should resist tinkering with the tax system merely for the sake of it. Yes, fiscal stability must be maintained, but continually adjusting tax thresholds, inventing new reliefs, or creating short-lived incentives undermines the stability that businesses depend on when making multi-year investment decisions. The alleged U-turn on raising income tax is good if it means economic forecasts are better than expected, but not if they are set to be replaced by a number of smaller tweaks to the tax system."
The UK is experiencing weak economic growth, falling corporate investment, and heavy cost pressures that require decisive Budget action to enable sustainable long-term growth. Businesses need a credible plan that restores competitiveness to prompt investment and hiring. The Budget must avoid political theatre, temporary gimmicks, one-off schemes, and measures that create complexity and undermine long-term planning. The government should use its large parliamentary majority to enact durable reforms in planning, infrastructure, regulation, and skills. The Chancellor should resist frequent tax tinkering and short-lived incentives, maintain fiscal stability, and prioritise reforms that reduce complexity and support multi-year investment decisions.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]