Autumn Budget 2024: Business Confidence

13. What discussions she has had with businesses on the potential impact of the autumn Budget 2024 on levels of business confidence.

Economic stability and growth are vital to help businesses across the UK to grow. The Lloyds business barometer published last week showed business confidence up 12 points, building on recent surveys by EY and PwC that show that business and investor confidence is rising. The Government are partnering with business to unlock investment and to drive growth.

The Chancellor, with her unimpeachable record in the sector, will know that economics is known as the dismal science. As a member of the Business and Trade Committee, rather than using second-hand statistics, I have spoken directly with businesses one to one and found that the mood is indeed dismal. After her dud Budget, can she think again and go back on this desperate jobs tax? She is in danger of becoming tough on growth and tough on the causes of growth.

Conservative Members welcome the additional money for the NHS, but they never welcome the means to pay for it, which is why we are in the mess that we are with the £22 billion black hole we inherited from the previous Government. The hon. Member says that these are backward-looking surveys. The EY survey of UK CEOs found that 82% felt optimistic. PwC’s latest global CEO survey ranked the UK as the second-most attractive global destination for international investment, and last week the Lloyds survey showed a boost in business confidence. Those are the facts. People are choosing Britain as a place to invest and to locate their businesses. On the Government side of the House, we welcome that.