CBI responds to Shadow Chancellor's speech at Labour Party Conference

Rain Newton-Smith, CEO, said: 

“Businesses will be encouraged to hear the Shadow Chancellor speak so ambitiously about driving up business investment and committing to tackle some of the key blockers. Unlocking business investment and improving UK productivity is the best route we can take to raising living standards and secure sustainable growth.

“Business need certainty and stability in areas like tax, regulation, planning and policy. Businesses will welcome the focus on planning and infrastructure delivery. Speed and accountability need to be at the heart of efforts to reform restrictive planning processes, accelerate grid connections and boost infrastructure capacity – three critical levers for unleashing the business investment we need to deliver sustainable growth across our communities.

“The Shadow Chancellor also spoke about Labour’s vision for the tax system. The recognition of the burden of business rates is positive for firms but any solution should not punish those businesses which support customers who choose to go online. While discussion of further windfall taxes also risks dampening investor confidence. We encourage each of the main political parties to publish a long-term Tax Roadmap to give firms both at home and abroad, the confidence to unlock investment. This should ensure that the UK tax system has simplicity, certainty, is proportionate and internationally competitive. “