CBI calls on chancellor to attract investment in UK infrastructure

Chancellor George Osborne must deliver on the government proposals made in the Autumn Statement to attract more investment into UK infrastructure, the Confederation of British Industry (CBI) said today (February 22nd).

In a move that could affect professionals in construction sales jobs, the CBI also recommended changes to the UK tax system so that businesses would be encouraged to invest in the UK, including new forms of funding to help firms grow.

CBI director general John Cridland said: “The chancellor must use this budget to score the growth and investment policy goals he put forward in his Autumn Statement.

“While the state of 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.”

The organisation advised providing non-bank finance to mid-sized businesses through a corporate bond market, which could enable them to recruit more employees.

According to the British Retail Consortium, firms are harbouring up to 50 per cent more in cash holdings since 2006 amid economic uncertainty.

BRC director general Stephen Robertson has asked Mr Osborne to create conditions that would “encourage retailers to turn that cash into growth-producing investment”.

Posted by Steve Williams

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