Autumn Statement 2016: Economic stimulus needed

Next week’s Autumn Statement comes at a time of unprecedented political and economical turmoil – but what will Philip Hammond have to say when he stands before Parliament on Wednesday?

We asked our official Autumn Statement partner, Qdos, what they’d like to hear.

Brendan Dawson, managing director of Qdos Vantage, said: “A cut in VAT would be a great stimulus for the UK economy and work well in lieu of uncertain economic path we’re on at present.

“I’d also like to see tax breaks for innovation and export – as well as some big infrastructure programmes which should be accelerated to bring forward activity and jobs in the construction sector. The Government needs to make things happen sooner rather than later.”

Seb Maley, director at Qdos Contractor, added: “I don’t think it’ll be a particularly exciting Autumn Statement,

Seb Maley

however I agree with Brendan that I think the Chancellor will need to announce some investment in infrastructure.

“I also like to see the Government stick to its programme of bringing down corporate tax and commit to reducing it to 17% by 2020.

“A temporary reduction in VAT would also be welcome – perhaps to 15%. This would stimulate activity in the UK economy. The Chancellor should also commit to investigating VAT fraud.”

Join us next Wednesday afternoon when we’ll be reporting from the Qdos offices in Thurmaston, Leicestershire, on all the big Autumn Statement news.