On Monday 23 September, the chancellor Rachel Reeves delivered her speech to the Labour Party conference in Liverpool about the Britain that the government wants to build, reflecting on the previous government’s actions and looking ahead to the upcoming Budget.
Shevaun Haviland, Director General of the BCC, said:
“It was encouraging to hear the Chancellor recognising the huge potential of British business to grow the economy and her ambition to make that happen.
“Today’s speech has set the scene for her first budget which will be a huge moment to shape the expectations of business and the public for the years ahead.
“This was a vital moment to lift the tone and for the Chancellor to champion the critical importance of economic growth, increased exports and investment.
“Businesses will be keen to get more detail on how she plans to do this. They will want to know where any increases in the tax burden are likely to fall, but they will welcome the imminent publication of an Industrial Strategy.
“The BCC believes there are three main ingredients needed to make the budget a welcome one for business. It must encourage investment, strengthen the workforce and develop our local economies.
“All eyes will now be turning to October 30th to see if the Chancellor can deliver on the intent that she has set out today. We stand ready to work in partnership with Government to make the UK the best place to start, grow and invest in business.”
The prime minister Sir Keir Starmer delivered his speech to the conference on 24 September. He praised the party’s victory in the general election and set out plans for government.
Shevaun Haviland, Director General of the British Chambers of Commerce, said:
“The Prime Minister rightly set out the importance of stabilising and growing the economy during his speech. Businesses stand ready to work hand in hand with Government to reach those goals.
“Firms also wanted to hear an upbeat plan for the future, so it was encouraging to hear the Prime Minister talk of ‘light at the end of the tunnel’.
“We’ve consistently argued for reform of the Apprenticeship Levy and look forward to getting more detail on the changes announced today. It’s vital that any reforms give employers confidence to invest in the skills they need for the longer term.
“Businesses will be pleased to hear the Government’s commitment to getting more people back into work.
“It’s also welcome that planning reform and grid connectivity are priorities for the Government as they remain key blockers to business investment. But companies are now impatient to see delivery.
“The confirmation that GB Energy will be headquartered in Aberdeen is fantastic news for our Chamber colleagues and the wider business community in the North East of Scotland. We look forward to working closely with the Government on this important part of the net-zero transition.
“Firms will invest more if they see a clear long-term plan for the economy. If next month’s Budget and the launch of the Industrial Strategy are properly executed, they have the potential to be real catalysts for business growth.”
