Stakeholder Reaction: Chancellor chooses a Budget to rebuild Britain

Wednesday, 30 October 2024 18:14

From HM Treasury Stakeholders react to the Chancellor of the Exchequer Rachel Reeves first Budget Iberdrola Executive Chairman and ScottishPower Chair, Ignacio Galan, said: “We welcome our ongoing positive engagement with the Prime Minister and his Chancellor and their focus set out in today's Budget to scale up investment and boost UK growth. “The private sector has a key role to play and as one of the UK's largest investors we are encouraged by the UK...Request free trial

From HM Treasury

Stakeholders react to the Chancellor of the Exchequer Rachel Reeves first Budget

Iberdrola Executive Chairman and ScottishPower Chair, Ignacio Galan, said:

“We welcome our ongoing positive engagement with the Prime Minister and his Chancellor and their focus set out in today's Budget to scale up investment and boost UK growth.

“The private sector has a key role to play and as one of the UK's largest investors we are encouraged by the UK Government maintaining the long-term, predictable and stable frameworks needed.

“We are confident the UK is creating the conditions for businesses to grow and we reaffirm our plan to double our UK investment to £24bn by 2028 to deliver energy security, industrial development, jobs and decarbonisation - all shared ambitions of the UK and Iberdrola.”

Chris Hulatt, Co-Founder, Octopus Group said:

“We believe the changes that were announced to Business Relief, including for AIM companies, provide much needed certainty to investors and are reasonable in the context of the overall fiscal situation and the desire of the Government to ensure that the country is an attractive place to grow a company.”

Andrea Rossi, Chief Executive, M&G said:

"The clarity that today's Budget brings is welcome and builds upon the recent International Investment Summit. We recognise that there were difficult decisions to be made but are pleased to see a continued focus on encouraging investment into the UK and creating the right conditions for growth with both practical measures and funding for key sectors such as infrastructure, engineering and biotechnology.”

Craig Beaumont, Executive Director at the Federation of Small Businesses, said:

"The substantial increase in the Employment Allowance today is hugely welcome, putting up to £10,500 into the pockets of small employers by decreasing the jobs tax on small businesses. The EA was FSB's original proposal for a work-based tax incentive; so to see this with a record increase is very positive. In a tax-raising budget, the Chancellor is setting a tone for the rest of the Parliament on economic policy that small businesses will be protected and helped to grow and recruit."