LABOUR’S FIRST 100 DAYS – WHAT'S IN IT FOR BUSINESS?

Last Saturday marked the new government’s first 100 days in office. And it’s fair to say a lot has happened since the election in early July. Prime Minister Keir Starmer and Chancellor Rachel Reeves have made growth their central mission – to boost the UK’s prosperity. Businesses across the UK couldn’t be more supportive of this ambition. It’s a shared goal that will require shared solutions – and a government that is keen to consider and act on the concerns of firms, including here in the East of England.

We’ve already seen a number of positive signs that this government is indeed listening to business – like when it comes to planning. An onerous planning system has held back businesses keen to establish or expand operations here in the UK for too long. So, it’s good news that the government has committed to reforming this area. We know that getting spades in the ground as swiftly as possible to give people access to housing and employment opportunities will stimulate economic growth. That will allow communities and businesses to benefit from improved connections, greater security and reduced consumer costs. CBI members have also been telling us that access to labour and skills is a serious barrier to growth. So we have welcomed the government’s commitment to reshape the apprenticeship levy with a new growth and skills levy, with greater flexibility. That has the potential to provide vital momentum to the economy – and help re-skill, and up-skill our workforce.

But there’s still plenty of work to be done across the economy to secure sustainable growth. At the end of October, Chancellor Rachel Reeves will deliver her first fiscal statement – a pivotal moment for the newly elected government to build momentum for its agenda to achieve long-term, sustainable economic growth. The CBI has recently published its Autumn Budget submission, outlining exactly was businesses need to see to feel more confident in their growth ambitions. That includes the delivery of a Business Tax Roadmap – alongside long-term business rates reform, to bolster business certainty. And comprehensive action to seize the UK’s opportunities when it comes to net zero. The CBI is calling on the Government to introduce new green tax incentives – including a Green Innovation credit – to unlock private sector R&D and ensure we can stay internationally competitive in this critical sector.

It has no doubt been a busy first 100 days for the government – and there have been a fair share of encouraging announcements indicating growth will truly be at the forefront of this next parliament. With the Autumn Budget coming up, there is no time to be complacent. We will continue to speak to our members and relay their insights and concerns to politicians to make sure the business voice is heard on those crucial areas that can decide our economic future.