20 July 2016
Employment continues to grow, but underlying uncertainty remains.
Read the CBI/Pertemps Labour Market Update here.
24 November 2014
Against a backdrop of solid UK growth but increasing global risks, the CBI is calling on the Chancellor to focus on infrastructure investment, encouraging innovation and removing barriers to enterprise, in the Autumn Statement.
The latest CBI/URS Infrastructure Survey shows that businesses expect transport and energy infrastructure to worsen over the next five years, so the CBI’s package of growth boosting measures include: a tunnel under Stonehenge to relieve congestion to the South West; keeping momentum up on the A14 upgrade; and a final decision on the guarantee for Hinkley Point C power station.
The UK’s leading business group also wants the Government to: reform business rates; supercharge the research and development (R&D) tax credit; ensure further devolution passes the business growth test while maintaining the integrity of the UK’s internal market; and freeze long-haul Air Passenger Duty.
Businesses recognise that the public finances are under significant pressure and with the Government still borrowing around £100 billion a year, a new fiscal framework should enshrine a continued commitment to deficit reduction. In light of this, the cost of the CBI’s targeted proposals is a modest £676 million in 2015/16, paid for through public services reform and departmental savings.
“The UK recovery is on solid ground but it is in increasingly stark contrast to what’s happening elsewhere in the world. With Eurozone economies flat-lining, continuing political tension between Russia and Ukraine, and in the Middle East, and slowing emerging markets, we must be alert to the possible knock-on effects here.
“Businesses recognise the public purse is under pressure, which is why they want the Government to continue tackling the deficit, alongside targeted, affordable measures to keep UK growth motoring now, in the next Parliament, and beyond.
“We know firms are concerned about the state of our roads and energy supply and affordability, so the arrowhead of business recommendations is a major push on improving the country’s infrastructure. Businesses want to see the Government set out clear project plans, with start dates and timescales.
“We also want to see the Government encourage innovation and enterprise by reforming the outdated business rates system, which is a disincentive to company expansion, alongside expanding the R&D tax credit to encourage development, as well as research activity, in the UK.
“And freezing long-haul Air Passenger Duty would help more firms in all UK regions and nations, particularly smaller ones, export their products and services to new growth markets around the world, like Mexico and Indonesia.”
14 July 2016
Our regular roundup of the key economic indicators
14 July 2016
Carolyn and Josh focus on post-referendum priorities during their Westminster rounds