CBI reiterates call for all action growth and jobs budget
The CBI has reiterated its call for the Chancellor to deliver an all-action budget to boost growth and jobs.
The business group has outlined its priorities for Wednesday’s Budget in a letter to George Osborne, urging him to focus on three critical areas:
boosting export performance
unleashing domestic investment spending
removing barriers for high-growth firms.
John Cridland, CBI Director-General, said:“The Chancellor must do all he can to create the right conditions for businesses to flourish and create much-needed employment.
“We want an all-action Budget that will boost exports, unleash investment and remove barriers for high-growth firms. That means improving export finance for fast-growing smaller firms, tackling delays in the planning system and making the UK a more attractive place to invest by enhancing the competitiveness of the tax system.
“The Government should also apply the mantra ‘think small first’ when shaping employment law, because if it gets it right for the smallest firms, it gets it right for all businesses.”
The CBI’s proposals for boosting exports include:
pushing ahead with making ECGD more accessible to smaller exporters
strengthening UKTI by ensuring it is supported across Whitehall departments and can fully exploit new markets for UK businesses.
The CBI’s measures to stimulate investment include:
ensuring the fast-track planning system delivers timely consents for strategic infrastructure
encouraging the development of the medium-sized corporate debt market to boost business growth
improving the Enterprise Investment Scheme (EIS) to bridge the funding gap for larger SMEs requiring between £2m and £10m
piloting Growth Zones to attract investment.
To remove barriers for businesses to grow and create jobs, the CBI is calling for the Government to:
avoid re-localising the Uniform Business Rate to prevent the risk of business costs increasing
extend the qualifying period for unfair dismissal and reform Employment Tribunals to boost job creation
restore the incentive of the Carbon Reduction Commitment or stop the scheme to reflect concern about energy costs
promote more competition in public service delivery.
