Ahead of the UK government’s Spring Forecast, CIMA called for decisive action to “reset the UK’s economic trajectory for 2026, restore business confidence, and unlock the country’s growth potential”.
The Spring Forecast, set for 3 March, is “a vital opportunity for the government to rebuild confidence and commit to a long-term, pro-growth strategy”, Andrew Harding, FCMA, CGMA, chief executive–Management Accounting at the Association of International Certified Professional Accountants, said in a news release.
A letter to UK Chancellor of the Exchequer Rachel Reeves outlined six key policy priorities designed to incentivise employment, investment, and innovation:
- Restoring business confidence through policy certainty, clarity, and effective communication;
- Supporting investment and competitiveness through business taxation and reliefs;
- Implementing a simpler and fairer tax framework to support work investment and growth;
- Supporting SMEs to unlock growth;
- Closing the skills gap; and
- Developing a coordinated productivity strategy.
“We consistently hear from businesses that they need stability, clarity, and policy certainty to plan ahead and invest for growth,” Harding said in the release. “By ensuring the UK has a competitive business tax framework, simplifying the personal tax system, offering targeted SME support, and driving a step change in skills provision, the government can send a powerful message for 2026.”
Regarding support for SMEs, the CIMA release said that reinstating and modernising the Growth Accelerator Scheme would give small businesses subsidised access to coaching, strategic advice, finance expertise, digital adoption, and scaleup planning.
“The UK cannot miss this opportunity to support the SME sector, unlock private investment, raise productivity, and build a stronger, more competitive economy,” Harding said.
— To comment on this article or to suggest an idea for another article, contact Steph Brown at Stephanie.Brown@aicpa-cima.com.