Ahead of the UK Chancellor Rachel Reeves' Mansion House speech on July 15, the British Chambers of Commerce (BCC) has called for urgent reforms to unlock business investment and stimulate growth across the UK.
Drawing from recent research involving over 4,500 firms, the BCC noted persistent low investment levels and fragile business confidence, despite more than half of companies believing the UK economy holds untapped growth potential, the BCC said in a release.
Shevaun Haviland, director general of the BCC, said businesses nationwide are eager to hear a clear commitment to investment reform.
“For too long investment has been the Achilles heel of our economy. As we set out in our Blueprint for Growth report, we want to see full implementation of the Mansion House Accord, consolidation of pension default funds, and greater investment in illiquid assets to support regional growth. Tomorrow night is an opportunity for the Chancellor to signal support for these ideas,” she said in a release.
Haviland also advocated for the creation of a British Growth ISA to mobilise public investment in UK businesses and called for streamlined regulations that support responsible risk-taking and foster innovation.
ALCHEMPro News Desk (HU)
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