Responding to the Chancellor’s speech at Labour Party Conference, John Dickie, Chief Executive at BusinessLDN, said: “The Chancellor is right to emphasise the importance of investment as the fundamental driver of economic growth. With little room for manoeuvre on the public finances, the Government must prioritise measures that crowd-in private sector activity.
“It’s encouraging to hear that the Northern Powerhouse rail project will progress, as enhanced UK-wide transport connections are a must for improved growth. The Government should also back major infrastructure projects in the capital, including an extension of the Docklands Light Railway to Thamesmead, which will be essential to the success of plans for a new town in the area.
“The prospect of an ambitious youth mobility scheme along with an expanded youth guarantee framework should create opportunities for more young people to experience the world of work.
“What firms really wanted to hear from the Chancellor though was reassurance that they won’t bear the brunt of further tax rises to come, but they have been kept guessing until the Autumn Budget.”