The CBI has given its initial reaction to the Chancellor’s November
2017 Budget.
Carolyn Fairbairn, CBI Director-General, said:
“Against a sombre economic backdrop, the Chancellor today gripped
the steering wheel on the UK economy. This is a budget
that balances support for people on squeezed incomes
with vital action to help grow the UK out of austerity.
But delivery is everything.
“Action on business rates, R&D tax
credits, the National Productivity Investment Fund and
Brexit planning will help firms to invest and grow today against
an uncertain Brexit backdrop.
“It was good to see focused investment in the
long-term drivers of growth
that underpin sustainable prosperity.
“Building a skills system that supports the 4th industrial
revolution is the right ambition, but the approach needs to be
joined-up with the National Retraining Partnership
delivering a stable approach and apprenticeship levy flexibility.
“Additional investment in infrastructure will help tackle
regional inequalities. The support for housing supply is critical
for people and firms. Metro mayors will also welcome greater
options for transport funding, but regions without
devolution deals must not be left behind.
“And by making the most of tomorrow’s technologies, including
increasing investment in R&D and fuelling innovation the
Government will help create a virtuous circle by drawing in
private sector funding.
“The challenge now is turn words into action. For Government and
business, this starts next week with the Industrial
Strategy.”
