CBI calls for Osborne to deliver growth measures

THE CBI is urging the Chancellor to use next month’s Budget to deliver the promises he has made to support growth.

In a letter to George Osborne, director-general John Cridland calls for the Government to encourage new investment in infrastructure and simplifications of the tax system for business.

Mr Osborne promised a range of measures, including a new credit easing scheme supported by debt guarantees to the banks, in his Autumn Statement and the CBI is demanding he uses the Budget to move them forward.

John Cridland, CBI director-general, said: “Delivering private sector investment in infrastructure, supporting mid-sized businesses, hammering out the details on credit easing, extending the Youth Contract to 16 and 17-year-olds, and introducing the New Build Indemnity Scheme for mortgages at the earliest opportunity will all provide a real boost for UK growth and jobs.

“With our economy firmly under the international spotlight, there is no time to lose: Plan A plus must become a reality.

“We also want to maximise the incentive for businesses to invest in Britain. So we’re calling on the Government to make some targeted changes to the UK tax system, which could make an impact on business decisions and create new opportunities for growth.”

The CBI is asking for changes to the tax system including broadening the infrastructure that qualifies for capital allowances and expansion of the Enterprise Investment Scheme.