CBI hails ‘fiscally neutral’ Budget

Director general John Cridland welcomes common-sense measures for business


John Cridland, director-general of the Confederation of British Industry (CBI), has hailed chancellor George Osborne for ‘sticking to his guns’ and delivering a “fiscally neutral programme”.

Responding to today’s Budget, Cridland pointed to the positives, including the corporation tax and 50p income tax rate cuts. He claimed the moves demonstrate to “aspiring talent that this government wants them to create wealth here”. He added the much-desired 20% rate of corporation tax has now been put “within our reach”.

“The chancellor has also painted a clearer vision of how the UK will earn its living in the future and, by seizing the opportunity to make sure our corporate tax system is more internationally competitive, he has sent a powerful signal to companies to invest, do business and create jobs in the UK.

Cridland added that the chancellor’s proposed cuts to anti-business bureaucracy could have gone further: “If businesses were looking for more, it was in the area of deregulation. For smaller businesses, things may not feel very different on the ground. It would have also have been a huge relief if the chancellor had taken the opportunity to get rid of the currently unworkable Carbon Reduction Commitment.”

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