A survey of 500 ICAEW members has revealed that next week’s Budget is being seen as make-or-break by businesses longing for certainty.

Of those surveyed, 81% said that, unless the Budget signals a clear change of course the government will not be able to deliver the conditions needed for growth.

Nine in 10 of the respondents (91%) wanted to see greater certainty on tax for businesses to be able to invest, and for the government to take action to support investment and job creation.

Three-quarters (76%) felt that the government was not listening to the businesses which it expects to deliver much-needed growth. The survey, which ran from 8 October to 11 November, asked members what they thought were the biggest barriers to growth. The results were:

• Uncertainty in government policy (84%)
• The overall tax burden (79%)
• Regulatory complexity (69%)
• The structure of business rates (44%)
• VAT complexity (43%)
• Access to finance (38%)

Those surveyed said that cutting duplicate regulation would help support business growth, as would the simplification of employment status rules and a business tax roadmap that spans more than one political cycle.

The majority (78%) also called for improvements to HMRC service performance, while 75% called for guarantees that there will be no further business tax rises during the current parliament. The survey findings align with ICAEW’s recommendations to government on growth.

“The UK stands on a precipice – small tweaks and timid measures in next week’s Budget will not unlock UK growth. Businesses need certainty from government,” said ICAEW’s CEO Alan Vallance.

“Economic growth will require the country’s businesses to be confident, to innovate and to invest. If the government is to come good on its growth mission, it must demonstrate that it is firmly on the side of businesses by cultivating the conditions in which they can thrive, beginning with a cast-iron commitment not to increase business taxes in this parliament.”

The survey results come as ICAEW calls on the Chancellor to make comprehensive reforms to the VAT regime. The institute has concluded that a broader, single rate system would make it simpler to do business in the UK while raise billions for the economy.