The British Chambers of Commerce urges Rachel Reeves to implement reforms to stimulate business investment ahead of the Chancellor's Mansion House speech. Research indicates weak business confidence and low investment levels, despite 56% of firms recognizing untapped growth potential. Key proposals include complete implementation of the Mansion House Accord, consolidation of pension default funds, and enhanced investment in illiquid assets for regional growth. The establishment of a British Growth ISA is suggested to encourage public investment in UK firms. A streamlined regulatory framework promoting responsible risk taking is crucial for fostering innovation and competitiveness.
Businesses large and small, across the UK, will be listening hard to the Chancellor's speech - to see if it can truly spark much needed investment reform.
For too long investment has been the Achilles heel of our economy. As we set out in our Blueprint for Growth report, we want to see full implementation of the Mansion House Accord, consolidation of pension default funds, and greater investment in illiquid assets to support regional growth.
A British Growth ISA to channel more investment into UK firms would also be a welcome start. Getting more of the public to invest and back British business is long overdue.
Reforms to create a streamlined yet robust regulatory framework are essential. Regulation that encourages responsible risk taking is a powerful enabler of economic growth.
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