We now have created a situation where the OBR is effectively setting the immediate stance of fiscal policy. If economic expectations are poor, the finances look poor, so austerity or tax hikes follow – but these in turn make the economy and finances worse.
Danker warns that “if business investment starts to fall” the economy could well contract.
These moves are like those of a boxer who throws his arms round his opponent in an attempt to save himself from a knock-out blow.
Lumping more onto the UK’s tax burden – already at the highest sustained level seen in peacetime – cannot be the answer.
The single most important thing for right-leaning outsiders to understand is that boards don’t control most of a firm’s political comment.
The International Trade Secretary joined the panel for a live event with Anand Menon, Katy Balls and Andy Burwell, chaired by Paul Goodman.
The CBI supports the Government’s timetable and Starmer is keeping his head down. It is quite the turnaround.
Johnson will be well aware of this – and will be more concerned about heading Labour’s leader off than by the restive Tory press.
The Apprenticeship Levy is not working. Greater flexibility is needed so employers boost spending on high-quality training.
The most important sector is one usually ignored. Small firms constitute 99 per cent of all business in the country.
I hope that we will see more of the Chancellor during the campaign explaining how his plans can help support investment to boost productivity.
The CBI provided the stage for the Prime Minister, but he treated them mean to keep a very different audience keen.
The confederation has wielded considerable influence over the last 30 years. But other, more entrepreneurial voices, must be heard, too.
The PM says that £6bn saved by delaying cuts in corporation tax will be used to fund public services like the NHS.
“This programme, which is appearing to value none of the contribution that business makes, will simply shut investment out of our country.”