Responding to today’s Budget, , Director General of
the Institute of Directors, said:
“The Chancellor dipped his toe in the water with this Budget, but
failed to make a splash with business. Next year’s Budget is too
close to point of Brexit to make a difference, so this was his
last chance to give business the boost it desperately
needs. With an unpredictable future looming, it was
absolutely essential that businesses be given the confidence and
incentive to invest in their equipment and employees.
“ faced a difficult task
today, with ugly growth forecasts, and plenty of demands on the
Treasury, but companies will still be disappointed with what they
got. Individually there were some positive measures, but overall,
the Budget was more defined by what it omitted than what it
included.
“Investment in maths and computer science in schools,
re-training, and transport for the Northern Powerhouse are all
positive. But the Budget was simply too tepid in other areas.
Adjusting the up-rating of business rates was welcome, but too
little relief was provided for small businesses now. Freezing Air
Passenger Duty is a start, but the Chancellor failed to make the
bold move and cut it back to promote trade and travel. Not
cutting the VAT threshold is a relief, but can hardly be seen as
a victory. In too many areas, this Budget simply did not rise to
the occasion.”
