The Institute of Directors (IoD) has called on Chancellor John Healey to help restore confidence amongst UK businesses in the upcoming Autumn Budget.

The IoD recently published its Autumn Budget submission in which it urged the Chancellor to restore confidence, encourage private investment and create the conditions for stronger long-term economic growth.

It argued that persistent weaknesses in investment, productivity and business confidence ‘risk undermining future prosperity’.

The submission identified five priority areas where the Budget can help strengthen the UK’s growth prospects. The IoD urges the government to:

• create a competitive and predictable tax environment
• mitigate the investment and employment consequences of the Employment Rights Act
• sequence devolution to support productivity across the UK
• deliver economically productive infrastructure
• accelerate responsible AI adoption across the business population.

Anna Leach, Chief Economist at the IoD, commented: ‘This Budget must restore confidence and provide a clear signal that the UK is committed to being one of the most attractive places in the world to invest, grow a business and create jobs.’

Press release: Institute of Directors