Latest News Wed, Feb 12, 2020 3:29 PM
The start of 2020 has seen a welcome lift in business confidence. This historic, first budget of a new decade offers the chance to turn rising optimism into a surge in investment across the UK.
It is private sector investment that will lift productivity and enable all parts of the country to share in economic growth. Investment is also the key to building the UK into a global innovation leader.
Business strongly welcomes the Chancellor’s vision to level up communities and lead the way in low-carbon energy and is committed to playing its full part. Private sector investment has fallen over the past couple of years. This Budget offers the opportunity to reverse this decline through pro-enterprise economic policy.
To achieve this, the CBI recommends a set of practical steps for this Budget. Key proposals include the following:
Dame Carolyn Fairbairn, Director-General of the CBI, said: “At the start of this new decade, firms are feeling more optimistic and want to invest. This historic Budget offers the chance to turn rising optimism into a surge in investment across the UK. Backed by a pro-enterprise Budget for skills, infrastructure and innovation, business can help kickstart a new decade of UK growth and job creation.
“And it is investment that will enable all regions of the UK to share in rising prosperity. It will put the UK on track to lead the world in innovation, clean growth and the industries of the future, from AI and robotics to agri-tech and life sciences.
“Trade policy will continue to matter, but with strong domestic policy, British firms are ready to invest and get the UK into the fast lane of global economies.”
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