Finance Minister Jeremy Hunt is scheduled to start a set of discounts in spending and tax increases in the budget statement next Thursday, while he seeks to show that Britain is able to fill a gap in its public finance.
The British Industry Union said that it is possible that this is not possible to match this with measures to address the lack of labor and productivity, at a time when many companies put their budgets for 2023, harmful in the short and long term.
The Federation added that “the changes in immigration, organization and planning are decisive factors to carry companies to invest, but it will require the government to make political sacrifices,” setting a series of policy proposals that acknowledged that many in the ruling conservative party will find it difficult to support them.
This includes to be more flexible in relation to immigration, including professions that suffer from employment deficiency and add visas paths to students and graduates and visas linked to specific economic projects.
The Union also called on the government to simplify the “slow, insecurity” system and accelerate the decision -making process for major developments.
“We all have to accept now that with the tightening of the financial and monetary policy, we need more policies supporting our economy if we want to avoid a decade of not growing,” said Tony Danker, General Manager of the British Federation of Industry.
Danker said that if the Hunt’s growth plan is just “warm words and aspirations”, it will not prevent companies from retracting investment.
“You must address the real barriers we are facing now.
We need to make Britain an attractive place to invest,” he added..
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