“The Chancellor is right to put economic growth at the heart of the Government’s agenda. The challenge now is to turn ambition into action and, with the Autumn Budget approaching, the test will be whether Government policies genuinely encourage businesses to invest, expand and create jobs.”
“In our recent engagement with the Prime Minister and Business Secretary, we have made clear that one of the most effective ways to unlock growth is to back Britain’s five million family businesses. Together, they employ almost 16 million people and are embedded in communities across every part of the country.”
“The Budget should provide the certainty and confidence that family businesses need to invest for the long term. That means creating a stable environment for growth and rethinking policies that are already having the opposite effect.”
“The recent changes to Business Property Relief are a clear example. Family businesses are telling us that these reforms are disrupting succession planning and causing investment decisions to be delayed or scaled back. Capital that could be used to improve productivity, expand operations and support jobs is instead being reserved to meet future tax liabilities.”
“Family businesses stand ready to play their full part in delivering growth. The Government must now create the conditions that enable them to do exactly that.”