Call 020 7794 5757 - Email info@numerallp.com

Spring Statement is the time to act, says CBI

The Chancellor must act at the Spring Statement or risk the UK economy drifting backwards to low growth, warns the Confederation of British Industry (CBI).

01 Mar 2022

The Chancellor must act at the Spring Statement or risk the UK economy drifting backwards to low growth, warns the Confederation of British Industry (CBI).

The CBI has set out a range of policies aimed at sparking growth via business investment.

These include a permanent investment incentive to replace the super-deduction. The business group says this will boost business investment by £40 billion a year by 2026. 

It also wants to see the Apprenticeship Levy turned into a Skills Challenge Fund. In addition, the government should tackle high energy prices by improving home energy efficiency through new grants for decarbonised heating systems.

CBI Director General Tony Danker said: 'Business backs the Chancellor's desire to foster a renewed culture of enterprise and deliver a more ambitious growth rate. His vision set out only last week to leverage the tax and regulatory system to promote business investment, upskill Britain's workforce and stimulate innovation is the right recipe for future success.

'Faced with a record tax burden, a cost-of-living crisis, wage pressures and the end of the super-deduction, firms will be looking to the Spring Statement for a clear signal that the government's ambition will be matched by action.

'That is the time to act if we want to push the economy onto a higher growth trajectory. It takes time for policies to kick in and deliver results, so there's no point in waiting until an Autumn Budget.'

Newsletter sign-up

Why not register to receive our Monthly Newswire?

Once a month we'll send you an email packed full of essential business news and handy tax tips to help save you money.

Sign-up today

Try a site search Tax return, dividends, pension, autumn statement...

Company details

020 7794 5757

Numera, 4th Floor Charles House, 108-110 Finchley Road, London NW3 5JJ

Numera is a trading name of Numera Partners LLP | Company Registration No. OC365787 | Place of Registration: England & Wales | Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales.

About us

Numera is a newly established forward-thinking firm of chartered accountants, with over 25 years in experience of audit, accountancy, taxation and business advisory services.

We work with clients in a large variety of industries and sectors; from sole traders to multi-million pound turnover organisations. We aim to create and maintain a close relationship with our clients. By being so involved, we are able to identify opportunities for our clients as well as possible risks that our clients may be faced with.

© 2024 Numera. All rights reserved. We use cookies on this website, you can find more information about cookies here.