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Chartered Certified Accountants and Registered Auditors
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Chancellor Rishi Sunak will deliver the 2021 Autumn Budget on 27 October. The Budget will follow the Spending Review and is expected to set out how the government will deliver on its promises to the British public. These include leading the transition to net zero across the country; ensuring strong and innovative public services; levelling up across the UK to increase and spread opportunity; and delivering its Plan for Growth.
Here, we take a look at what the Chancellor may have in store in the Autumn Budget.
The Confederation of British Industry (CBI) says the decisions made this autumn at the Budget and Spending Review will 'define the UK's trajectory for the decade ahead'. These will bring an opportunity to generate higher investment and growth with lower carbon emissions and provide UK leadership in new markets.
According to the CBI, corporate cash reserves are now over £900 billion, creating 'a wall of investment waiting to be invested'. However, it says the government must create the right environment to unleash it.
The CBI says the Autumn Budget is a once-in-a-generation opportunity to change the UK's productivity and growth trajectory, so the government must do what it takes to rapidly unlock private sector investment.
However, failure to act will impact the UK's recovery and ability to level-up. In addition, inaction risks seeing the UK fall behind competitors, lose international investment, and miss out on its global commitments on net zero.
So, all eyes will be on the Chancellor on 27 October to see what he delivers.
The Budget may bring significant changes to the taxation system or bring new opportunities for investment. As your accountants we can help your business through these changes: please contact us.
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