"This government came to power after years of instability, pitching competence and commitment to the long term and without doubt, business wants them to succeed. So for the reshuffle to be more than political theatre, it needs to regalvanise the growth mission. That means making it easier for business to invest, create jobs and drive higher living standards. Leadership calls not only for promises, but vision and delivery."
"There are no easy choices, either on policy or personnel. And as we look ahead to the chancellor's budget in November, she must recognise that that we must avoid short-term solutions that risk us getting stuck in a cycle between fiscal events. The government must grasp the nettle and find the right solutions to the big challenges on tax and regulation."
"The prime minister said we cannot tax our way to growth and that is certainly true. Businesses already pay more tax than ever before. The 308bn paid last year more than covers the budgets of the NHS, schools and defence combined. Businesses are also picking up a greater proportion of the tax bill: paying 30% of all tax in 2023-24, the highest proportion since 1998, rising to 32% from this year as they pay an extra 24bn in NICs."
The government must re-energise a growth mission by making it easier for businesses to invest, create jobs and raise living standards. Reshuffle momentum requires vision and delivery rather than short-term fixes. The chancellor’s November budget should avoid temporary measures that perpetuate fiscal cycles and instead address major tax and regulatory challenges. Businesses already bear a rising share of taxation and face growing regulation, which particularly harms low-margin, high fixed-cost sectors and discourages hiring. Employment legislation and cumulative tax rises risk freezing hiring plans and hindering regional job creation unless policymakers act decisively.
Read at www.theguardian.com
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