CBI chair Rupert Soames: Reeves has created a ‘hole in the trust of business’ Investing Rachel Reeves has created a “hole in the confidence and trust of business” by using the private sector to fill a £22bn hole in the government’s finances, the chair of the UK’s top business body has said. Rupert Soames, chair of the Confederation of British Industry, said the Chancellor had “bruised” British companies after rolling [...]
Business confidence takes ‘decisive turn for the worse’ after Budget, says CBI Economics The Confederation for British Industry's (CBI) growth indicator showed that more firms expected activity to fall in the three months to February than to increase.
Starmer refuses to rule out further tax rises or more borrowing Politics Sir Keir Starmer has refused to rule out further tax rises or additional borrowing when challenged to repeat his Chancellor’s pledge not to “come back with more”. During Prime Minister’s Questions (PMQs) in the House of Commons on Wednesday, Conservative opposition leader Kemi Badenoch asked Starmer about Rachel Reeves’ words. She said: “At the Confederation [...]
Employers warn of workers’ rights reform and Budget double whammy November 26, 2024 Businesses are concerned about the aggregate cost of changes to workers’ rights and the cumulative impact of Budget measures, MPs have been told. The committee of MPs scrutinising the Labour government’s employment rights legislation took evidence from business groups, industry representatives and trade unions on Tuesday. And they were warned the combination of reforms to [...]
McVitie’s biscuits boss dunks on UK as investment destination November 25, 2024 The boss of the company behind biscuit giants McVitie’s, Jacobs and Carr’s has warned that the UK has become a less attractive place to invest. Speaking at the Confederation of British Industry (CBI)’s annual conference on Monday, Salman Amin, the chief executive of Pladis, the firm behind the iconic brands, warned that Britain has become [...]
CBI chief: Ministers must ‘co-design’ economic growth with businesses post-Budget November 25, 2024 Businesses should have a stronger voice in setting economic growth policies, the boss of an influential business lobby group has urged, including a shift from “consultation to co-design”. Rain Newton-Smith, chief executive of the Confederation of British Industry (CBI), told attendees at the group’s annual conference that the government and firms share a “vision of [...]
Firms worry about flatlining growth amid Budget tax rises concerns October 30, 2024 Private sector firms expect to see growth flatline in the final months of the year, a survey suggests, as concerns about the Budget build. For the second successive month, the Confederation of British Industry’s (CBI) growth indicator showed that businesses do not expect to see any change in activity over the next quarter. The CBI [...]
National Insurance hike will be ‘difficult’ for businesses, warns CBI boss October 15, 2024 Increasing employers’ National Insurance contributions will make it “harder for businesses to create the jobs and the growth” needed to “help fund our public services”, the boss of one of the UK’s largest business groups has warned. Speaking a day after Keir Starmer refused to rule out hiking National Insurance contributions paid by businesses, Rain [...]
CBI urges government to have closer ties with EU to help boost services trade September 17, 2024 In a new report, the business group argued that closer ties with the UK's major trading partners would help deliver the economic growth which the new government has pledged to deliver.
UK will become less attractive for firms if workers’ rights reforms are passed, CBI survey finds September 15, 2024 The UK is likely to become a less attractive place to do business in the coming years if Labour’s workers’ rights reforms are implemented in their current form, a new survey has suggested. Some 62 per cent of respondents to a survey by the Confederation of British Industry (CBI) survey and recruiters Pertemps said they [...]