What Businesses Want from the Budget 2017

Most of the businesses feel that the government must work in partnership with businesses to prioritise stability as Britain starts Brexit talks as per the Confederation of British Industry.

“By supporting businesses to invest, the government can promote growth at a critical time for the UK economy as we enter into EU exit negotiations,” says the CBI.

The CBI says that as uncertainty about how the UK leaves the EU dampens investment and higher inflation erodes consumer spending growth, “the government must show it is serious about supporting companies to invest, to help our regions and nations prosper”.

Another important aspect that the business are worried about is the business rates. It wants Mr Hammond to deliver “real reform” to the business rates system.

“Despite attempts by successive governments to introduce marginal reforms, the fundamental unfairness of business rates remains,” says British Chamber of Commerce. While the government needs to act to help small businesses facing business rate hikes, “we should also look to the future, launching a new Tax Commission to look at what the growth of self-employment and online business mean for the tax system.

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