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Invest in housing and broadband, business lobby tells chancellor Invest in housing and broadband, business group tells chancellor
(35 minutes later)
The government should include a multibillion-pound package of measures in the autumn statement to support UK companies in the wake of the EU referendum, a business lobby group has urged.The government should include a multibillion-pound package of measures in the autumn statement to support UK companies in the wake of the EU referendum, a business lobby group has urged.
The British Chambers of Commerce (BCC) said the chancellor, Philip Hammond, should adopt measures including reform of business rates, investment in housing and broadband, and more help for smaller companies. The proposals would cost £4.6bn a year, equivalent to 0.6% of government spending, the BCC said. The British Chambers of Commerce (BCC) said the chancellor, Philip Hammond, should adopt measures including reform of business rates, investment in housing and broadband and more help for smaller companies. The proposals would cost £4.6bn a year, equivalent to 0.6% of government spending, the BCC said.
The BCC’s director general, Adam Marshall, said: “The autumn statement gives the government a great chance to set the tone for its relationship with British business by pulling out all the stops to support investment, infrastructure improvements and business confidence.The BCC’s director general, Adam Marshall, said: “The autumn statement gives the government a great chance to set the tone for its relationship with British business by pulling out all the stops to support investment, infrastructure improvements and business confidence.
“The chancellor made the right move when he signalled his willingness to use historically low interest rates to invest prudently to support growth and he has a golden opportunity now to use this fiscal flexibility to ‘crowd in’ business investment.”“The chancellor made the right move when he signalled his willingness to use historically low interest rates to invest prudently to support growth and he has a golden opportunity now to use this fiscal flexibility to ‘crowd in’ business investment.”
In its submission before next month’s statement, the BCC said concern about a slowing economy had intensified after the Brexit vote. It said the chancellor should also pledge not to introduce any other significant costs on business for the rest of this parliament.In its submission before next month’s statement, the BCC said concern about a slowing economy had intensified after the Brexit vote. It said the chancellor should also pledge not to introduce any other significant costs on business for the rest of this parliament.