Columnist

Give us certainty and confidence

As we count down to Labour’s first Budget in well over a decade, there’s a sense of anticipation and uncertainty, mixed with cautious optimism in the North East business community. 

The new administration has been in situ for almost 100 days, and the CBI has welcomed some early signals about getting growth going. 

Planning reform, ending the onshore wind ban and updating our skills system are all positive announcements, particularly welcomed here in the North East.

These announcements show the Government is listening to us. 

But we’ve also heard about “painful” political choices ahead, and the challenging state of public finances – a type of narrative that has the potential to affect business confidence and investment decisions. 

The Labour Party’s election campaign – centred on ‘Change’ – triumphed in July; and the resulting pace, scale and impact of this change is what firms are keen to see. 

A shake-up nationally – and regionally – puts us in somewhat of a ‘snow globe’ moment, and it’s only October. 

Labour clearly has an ambitious agenda, so it is right to ask: what should be prioritised?

And this is exactly the question posed by a top Treasury official very recently at one of our CBI North East Business Leaders’ Dinners (kindly hosted by our friends at Muckle LLP). 

Given there are numerous pressing challenges for business, where was the consensus in our discussion? 

I heard three things.

First, that the Government should go further and faster on devolution to empower the regions and give long-term certainty on funding. 

And, by the way, this message isn’t unique to the North East; my counterparts across the English regions would echo this.

Second, if the Budget prioritises enabling infrastructure – to create foundations made of rock, not sand – industry will build upon it. 

It needn’t be exclusively brand new and shiny; optimising what we already have will go a long way.

Thirdly, and mentioned more than anything else – invest in people. 

And do so early, and alongside the private sector. 

From breakfast clubs to upskilling and training, health and housing, we’ll achieve a lot more working together in partnership. 

The CBI has published its submission to the Chancellor ahead of the Autumn Budget, and our region’s priorities shine through. 

The asks are clear, and backed by industry. 

So, let’s hope it’s a Budget that responds by providing certainty and boosting confidence, delivering for firms in the North East. 

Matt Bratton is regional director (North East and Cumbria) for CBI

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