Fiona Graham, Director of External Affairs and Policy at Family Business UK said;
“The Chancellor and Prime Minister have this week both been talking about making decisions for the long-term. And while there was good news for business in the statement around full expensing, there is still much more to be done”.
“The full expensing announcement will help support more investment, but if we want to truly unlock long term growth we need to remove the regulatory barriers businesses are coming up against and tackle long term issues”.
“A key example of this is the need to completely overhaul the Apprenticeship Levy. To deliver sustainable growth businesses need a workforce that has the skills for the jobs of the future”.
“Family businesses want to invest in training young people and retraining those who need to move industries – but the Apprenticeship Levy system isn’t working. Without a plan to fundamentally overhaul the employee training landscape and create a system that can financially support and provide the funding and training for skills for the future, the Government will not see significant long term growth.”
“Today’s statement marks the start of supporting long term growth – but we need to see more, across all departments, to make sure the ambition is reflected in real policy changes.”