Responding to Andrew Griffith’s speech at the Conservative Party Conference, Kate Shoesmith, Director of Policy at the British Chambers of Commerce, said:
“We welcome the shadow Chancellor’s pledge to cut taxes and give firms some breathing space on their future bills. This is central to allowing them to plan with confidence and unlock much needed investment in the UK economy.
“The complexity of our current tax system adds cost, absorbs management time and ties up resources, forcing business leaders to take a more cautious approach.
“We are clear that to get Britain back to strong, consistent growth we must cut business costs from energy, to tax, to employment regulation.
“His support for a third runway at Heathrow also sends a strong signal on the importance of critical national infrastructure and that supporting investment in big projects matters.
“An emphasis on faster planning and proportionate regulation also overlaps with long-standing Chamber calls. However, as the BCC has highlighted, planning departments need more resources to deliver meaningful change at pace.
“The BCC’s is looking to help plug this gap through its Planning Skills Fund with contributions from the private sector. But it is also essential that businesses are plugged into the decision-making process at the local and regional level.
“Care is also needed around the extent of deregulation. Businesses want good regulation, not no regulation. Cutting too much might lead to short-term gain but increase costs in the longer-term due to poor standards and insufficient oversight.