“The Chancellor is right that growth is the only sustainable route to stronger public finances, so his focus on investment, innovation and jobs, alongside measures to unlock infrastructure and spread economic opportunity, is a promising sign. It also won’t be lost on business that Healey was markedly more upbeat than some of his predecessors about the state of the UK economy and the future opportunities for growth, despite his candour about the magnitude of the challenges the country faces.
“The commitment to reduce the regulatory burden by 25% is particularly encouraging. Businesses tell us that operating in the UK has become too uncertain, too difficult and too expensive, so this target must translate into practical changes that cut the cost of doing business, reduce the pain points that businesses have to face and make it easier to invest, innovate and create jobs.
“Fiscal discipline matters, but the Budget must not seek to rebuild headroom through further increases in business taxes. Firms need certainty, simplicity and stability, supported by a credible, long-term roadmap towards a simpler, fairer and more modern tax system. The plans for greater fiscal devolution should also empower local leaders while avoiding additional complexity or fragmentation for businesses operating across the country.”
ENDS
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* includes parent companies. Source: ICAEW member data March 2026, Interbrand, Best Global Brands 2025.
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