Business groups react to Budget measures
Business groups have given mixed reactions to the announcements made
by Chancellor Gordon Brown in his 2004 Budget.
The Confederation of British Industry has praised the Chancellor for
delivering a Budget which aimed at ‘protecting economic stability
and curbing public sector waste’.
CBI director general, Digby Jones, said, ‘This is an innovative
and meaningful package. The Chancellor has heeded company warnings about
damaging rises in business tax and responded to calls for measures to
invest in enterprise, education, science and transport’.
Mr Jones also welcomed the commitment to cutting regulation and improving
the planning system.
The Institute of Directors warned that although there were a number of
‘positive steps’ for businesses in the Budget, it remained
concerned about the long-term situation.
George Cox, IoD director general, said, ‘Ultimately business wants
to see public spending, taxation and regulation brought under control.
The Budget contains many encouraging features, particularly by addressing
bureaucracy’.
‘However, if GDP growth fails to reach expectations or the tax-yield
slips, the Chancellor will be forced by his own rules to raise taxation
further next year. This remains our continuing concern after today’s
Budget’, added Mr Cox.
Meanwhile, the Trades Union Congress broadly welcomed the announcements.
Brendan Barber, general secretary of the TUC, said that the Budget ‘strikes
the right note’, although the TUC expressed disappointment over
the proposed job losses within the civil service, and said that the Chancellor
had ‘missed an opportunity to help women secure a better retirement’.
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