See where the CBI has influenced the government's commitments and the implications for your business.
11 Mar 2020, 4 min read
On 11 March, the Chancellor stood up and delivered his and this government’s first Budget – and the first opportunity for the CBI to shape government thinking.
Read what the CBI called for in our Budget submission here.
So what was the CBI Impact?
- Chancellor announces fundamental review of Business Rates: this was a key CBI Budget recommendation, and the confirmation of a fundamental review will be hugely welcomed by businesses
- Government invests £22bn a year in R&D: this will make a significant contribution to meeting the UK’s 2.4% R&D target and includes a commitment to a UK style ARPA
- Increases in the R&D tax credit to 13%: the Chancellor has announced both an increase to the R&D tax credit and a consultation into extending the scope of the credit to data and cloud computing in line with the CBI’s recommendation in Untapped Investment
- Rolling out rapid charging points for Electric Vehicles: £500m committed to deliver roll-out of
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