The UK Autumn Budget, delivered Wednesday by Chancellor of the Exchequer John Healey, addresses business growth in several provisions, including plans to ease procurement for innovative companies.
A government news release about the Budget highlighted two potential barriers related to business hiring: non-compete clauses and visa policies. “We are committing to reform the visa system to deliver the most pro-business migration system in Europe for highly skilled workers,” the release said.
Healey’s speech also mentioned seizing opportunities related to artificial intelligence (AI) and guarding against AI’s risks.
Andrew Harding, FCMA, CGMA, chief executive–Management Accounting at the Association of International Certified Professional Accountants, said in a statement: “With much of the detail from today’s Budget deferred, the Chancellor has missed an opportunity for practical action now. Businesses need certainty, stability, and an environment that supports growth.”
Harding also said that CIMA “would have liked to see stronger action on employment costs, skills, taxation cliff edges, and other barriers that continue to hold back investment and productivity”.
CIMA, which released its Autumn Budget submission in September, will have more analysis on the Budget during a LinkedIn Live briefing Thursday at 12:30pm GMT.
— To comment on this article or to suggest an idea for another article, contact Steph Brown at Stephanie.Brown@aicpa-cima.com.