Leading audit, tax and consultancy firm Blick Rothenberg calls on the Chancellor, Rachel Reeves, to reconsider her approach to stimulate the British economy.
According to partner Simon Gleeson, the current focus of the government is looking forward to large -scale, long -term infrastructure projects on the urgent political and economic realities.
“The Chancellor today gave a speech with her plans to improve the growth of the UK,” said Gleeson. “Growth, however, seems to have become a catch that bypasses the real challenges with which large infrastructure initiatives are confronted, such as HS2 and its cost overruns.”
Gleeson doubted the viability of the story of the Chancellor ‘Short -term pain, long -term win’, and pointed out that large projects such as a third runway on Heathrow could take over a decade to deliver. Similarly, creating a ‘Silicon Valley’ between Oxford and Cambridge is an obligation in the longer term that requires significant public investments. “These are important companies when the so -called ‘£ 22 billion black hole’ is still part of the economic conversation,” he added.
Instead, Gleeson argued that the Chancellor must give priority to policy that can generate immediate, sustainable growth. “The British economy is stagnating,” he said. “The reconsideration of employers NIC changes can make the ‘Mea Culpa’ moment of the government its and a misstep and offer a quick solution, instead of concentrating on ambitious long-term goals.”
He explained that pausing and revising these national insurance contributions would have a positive influence on the income of the family, creating jobs and increasing younger generations, including students and recently graduates. “Unlocking investments of pension funds and stimulating deregulation in business are also more realistic ways to create jobs and stabilize incomes in the working class,” said Gleeson, and emphasized that any further uncertainty could harm both individuals and companies.
The audience, continued Gleeson, is’ it is fed up with ‘the last government’, and now needs concrete action of the current administration. “Getting the blame and just talking about future, long -term objectives is not enough,” he said. “We need a clear, immediate economic strategy that produces tangible results.”