BCC releases its Budget submission at annual conference
17/03/10 | 23:00
The British Chambers of Commerce (BCC) has published its Budget submission today (Thursday), which coincides with the start of the business group’s annual conference at the British Academy of Film and Television Arts (BAFTA).
The submission, which has been delivered to the Chancellor, will also be used to challenge the Business Secretary, Lord Mandelson, and his Conservative shadow, Ken Clarke MP, during their head-to-head debate at the BCC conference this afternoon.
The key features of the Budget submission include:
1. A call for a clear deficit reduction plan that sets out detailed cuts. This plan must include a freeze in the total public sector wage bill and fundamental reform of public sector pensions.
2. Cancel the 1% hike in employer National Insurance Contributions, which is a tax on jobs. The BCC has suggested that a penny on VAT would largely offset the lost revenue.
3. New employment legislation and tax over the next four years will cost business over £25 billion. The BCC is calling for a three year moratorium on new employment law.
4. Provide more support around export trade finance, where Britain’s exporters continue to be at a disadvantage compared to rivals on the Continent and further afield.
5. Sustain investment in our transport, digital, and energy networks, which will underpin growth and form the foundation of our future competitiveness.
In his conference speech today (Thursday) David Frost, the BCC’s Director General, will outline a five point plan for our economic future. He will say:
“Without a successful and profitable business base of some scale we are going to find it hard to climb out of the economic mess we are in.
“A new Government will need a radical first 90 days in office that allows the flourishing of a new industrial renaissance in this country.
“Here is my five point plan: no new taxes on businesses; a reduction in the burdens on business; more successful, growing companies; turn the vision of an export-led recovery into a reality; and underpin all of this with a credible plan and timetable to reduce the country’s deficit - without spending cuts to vital infrastructure.”
Ends
For further information please contact the BCC press office on 020 7654 5813 or 07825 746812.
Notes to editors
Check speech extracts against delivery.
The conference opens at 12.30pm with a keynote speech by David Frost, and takes place at Bafta. Directions and venue information: http://www.bafta.org/195-piccadilly
Given the limited amount of space for cameras, Sky News will provide a pool feed of David Frost’s speech and the Mandelson/Clarke debate. The feed will be available from 12.15-14.00 via local end booking. Interested broadcasters should contact Sky’s satellite operations planning on 020 7585 4417 for the local end. Other broadcasters are encouraged to bring their own camera for any interviews or filming after 14.00.
An evening reception will also be held at Bafta from 17.30-20.00, which the media are more than welcome to attend. The Rt. Hon. Francis Maude MP, Shadow Minister for the Cabinet Office, will speak at the reception.
If you can’t make the conference in person, why not watch it online with BCC TV? Click on the link for more - http://www.bcc-preparingforchange.co.uk/?page_id=202.
BCC Annual Conference, 18th March 2010: www.bcc-preparingforchange.co.uk
British Chambers of Commerce: 150 years of helping business | 1860-2010
The British Chambers of Commerce (BCC) is the national voice of local business.
The BCC sits at the heart of a powerful nationwide network of Accredited Chambers of Commerce, serving over 100,000 businesses across the UK, which employ over five million people. For more information visit: www.britishchambers.org.uk