Go for Growth: a challenge to the government

The CBI is calling on the government not to settle for a future of low growth and high taxes, but instead, break conventional Westminster policy thinking and aim higher if it wants to meet its own ambitions for the economy.

We have unveiled six brand new policy asks to transform future economic growth:

1. When the Super Deduction ends in March 2023, replace it with a Permanent Investment Deduction – a 100% tax deduction for capital spending
2. Replace the Apprenticeship Levy with a new Skills Challenge Fund to ensure the UK catches up with European average skills investment – one that incentivises more flexible training to meet skill shortages and rewards firms who invest beyond their apprenticeship levy levels
3. Double down on green growth – by closing the public investment gap with our competitors on the primary areas of our net zero competitiveness
4. Fill in the policy gaps to secure the benefits of a decarbonised economy, for example, by publishing a contracts for difference model for hydrogen
5. Establish an Office for Future Regulation – to support a regulatory framework that is future-focused, agile and dynamic for post-Brexit Britain – as a follow-up to the government’s new post-Brexit regulation strategy published on Monday
6. Create an independent Council for Future Skills – to optimise training towards future economic demand and recommending where we will need visas for international skills to overcome shortages in home-grown talent. It would therefore set the Shortage Occupation List.

Read the transcript here.

Watch this space for analysis following the Chancellor's speech on 23 March

In the meantime, join us for:

• 2 March, CBI @10am: are we serious about growth?
• 24 March, CBI @10am: budget debrief