Growth and investment must be prioritised by the UK government in its upcoming Budget in order to boost the country's economy, a leading business group believes.
The Confederation of British Industry (CBI) has today (22 February) urged chancellor George Osborne to use his speech next month to follow up on the expansion targets he unveiled in his Autumn Statement.
According to the body - which represents more than 240,000 companies - this action, combined with certain alterations to the British tax system, will help persuade more firms to invest in the nation, which would then boost its recovery.
For instance, the CBI suggested the implementation of a new capital allowance would attract investment into different types of infrastructure.
John Cridland, director-general of the group, observed: "While the state of the public finances is tight, the chancellor still has an opportunity to make sure the UK tax system is as internationally competitive as it can be."
By Asim Shah
