We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedFinancial Planning

CBI calls on Osborne to support investment in infrastructure

Business group wants chancellor to deliver on Autumn Statement proposals

Article comments

Chancellor George Osborne should use his Budget next month to support investment in UK infrastructure and change the tax system, the CBI said on Wednesday.

The business group urged Osborne to firm up proposals made in the Autumn Statement. These include a new capital allowance to attract investment into types of infrastructure which do not currently qualify; new forms of finance to help companies grow and take on staff; and ways to ensure environmental taxes help to encourage new growth.

CBI director-general John Cridland (pictured) said the government should maximise the incentive for businesses to invest in the UK. "While the state of the public finances is tight, the chancellor still has an opportunity in this Budget to make sure the UK tax system is as internationally competitive as it can be," he said.

The chancellor should stimulate infrastructure investment through new models of private finance, including investment by pension funds, the CBI said.

It also called on changes to the tax system, including a simplification of the controlled foreign companies draft legislation.

Ian McCafferty, CBI chief economic adviser, said the government must deliver on its corporation tax roadmap. "We should ensure our tax system encourages rather than stifles private sector investment through better use of capital allowances," he said.

"We also need to encourage innovation through our tax system, and design environmental taxes which promote sustainable, value-added growth," he added.



CBI calls on Osborne to support investment in infrastructure
Financial Planning

Budget: What business wants

Budget: What business wants

CFOs are keen for the chancellor to avoid any uncertaintymore ..

Co-operative Group posts £2.5bn loss

Annual loss the worst in its 150 year historymore ..

Google sees 19% rise in Q1 revenue

However, company missed analysts' expectation as ad prices slidmore ..

Starbucks to move Europe HQ to UK

Coffee chain says move reflects growing importance of UK marketmore ..

Stay ahead of the curve

CFOs used to low interest rates ignore working capital optimisation at their perilmore ..

Digital streamlining of travel and expense claims [Part II]

Concur shows CFOs how to make life easier when the auditors come knockingmore ..

Send to a friend

Email this article to a friend or colleague:

PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.

In Depth
How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale value more ..

In Depth
What every company needs to do about big data?

What every company needs to do about big data?

In the first of a three part series, Pat Brans explores just how big 'big data' will get? more ..


* *