CBI urges economic growth in Budget

By The PMA Team

- Last updated on GMT

Related tags: Bond, Cbi

Budget: urges to boost economy
Budget: urges to boost economy
The Confederation of British Industry has urged the Treasury to focus on three areas to boost economic growth in the forthcoming Budget.

The Confederation of British Industry (CBI) has urged the Treasury to focus on three areas to boost economic growth and job creation in the forthcoming Budget.

In a letter to Chancellor George Osborne, the CBI calls for him to focus on boosting export performance, unleashing domestic investment spending, and removing barriers for high-growth firms.

The proposals include creating a new corporate bond market for mid-cap businesses to increase the supply of capital; speeding up the planning system to stimulate investment; and encouraging companies to become more energy-efficient by restoring incentives to the Carbon Reduction Commitment.

The CBI is also urging Osborne to focus on areas of taxation that are "discouraging entrepreneurship and undermining UK competitiveness".

This includes the 50p personal tax rate and the "narrow definition" of business assets under capital gains tax.

Related topics: Legislation

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