16th March 2015
Business lobby the Confederation of British Industry (CBI) is urging the Chancellor of the Exchequer George Osborne to focus this week’s Budget on helping medium-sized firms to grow.
John Cridland, CBI director-general has called on the Chancellor to deliver first and foremost “a responsible budget” and that one which does not put politics ahead of economic growth and investment.
Cridland said: “Let’s look to build on our hard-earned sound economic footing by creating a stable investment environment for ambitious firms looking to expand.
“And if lower inflation allows the Chancellor some room to manoeuvre, extending free childcare can lend a helping hand to families whilst supporting employment and growth in the long-term.”
Cridland added that while the UK economy is in good shape, there is still “no room for complacency”, so as such he said that spending wisely on measures that will help to “keep growth heading in the right direction while staying the course on deficit reduction has got to be the priority”.
The CBI’s Budget Submission proposals include:
Cridland added that the Government must address skills shortages in the economy by developing partnership funding models for business-relevant degrees.
He said: “It should also press ahead with plans to reform apprentice training funding to put businesses more in control.
In addition, he said: “The Government review on the Business Rates tax system must be ambitious and far-reaching – the CBI wants the smallest firms removed from paying rates, changing the indexation of rates from RPI to CPI and introducing more frequent valuations.”