The UK's accountants are calling on Philip Hammond to commit to infrastructure investment at next month's Autumn Statement

Mark Sands
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UK General Election 2015 - UK Politics Through A Washington Lens
Hammond was Theresa May's first appointment following her rise to power this summer. (Source: Getty)

The UK's accountants are pressing Philip Hammond to follow plans for a new £3bn homebuilding fund with further public investment in his Autumn Statement next month.

Hammond announced the scheme to back smaller developers alongside communities secretary Sajid Javid at the Conservative Party conference.

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And now, the Institute of Chartered Accountants in England and Wales has issued a further call for “smart investment” with priority given to infrastructure projects that can drive growth and provide a positive return to taxpayers.

In a letter to the Treasury last week, the accountants said that when Hammond takes to the Despatch Box on 23 November, he should provide proposals to “sweat” existing assets to generate a better result for the Exchequer, and push ahead with efforts to modernise tax collection.

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“Growing the top line for Government revenue is no longer a nice to do but a necessity. Revenue maximisation, through targeted investment and streamlining our tax system is an essential goal if we are to deliver the investment and infrastructure that is needed for a country that works for everyone,” ICAEW chief executive Michael Izza wrote.

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