UK employers tell Boris Johnson to 'get serious' about tax and business investment
October 22, 2021, 4:59 am

UK employers tell Boris Johnson to 'get serious' about tax and business investment

BORIS-UK PM-SITTING

Reuters reported, British employers told Prime Minister Boris Johnson’s government on Friday to “get serious” about encouraging business investment and stop blaming them for the economy’s problems and hitting them with higher taxes.

The Confederation of British Industry urged finance minister Rishi Sunak not to increase the tax burden for companies again when he delivers a budget statement and a three-year public spending plan next week.

CBI Director-General Tony Danker said Sunak’s announcement on Wednesday would be a “defining moment” for Johnson’s administration as it tries to move beyond the coronavirus pandemic and build a post-Brexit economy.

“We cannot take the economic recovery for granted,” Danker said. “If the UK is to break out of a decade-plus cycle of anaemic growth and zero productivity, then the government has to get serious about what it will actually take to deliver that.”

This month, Johnson vowed to end “the old failed model of low wages, low skills, supported by uncontrolled immigration,” comments which angered many business leaders who were already smarting from a planned increase in corporation tax in 2023.

Relations between Johnson and business leaders have been tense since he led the campaign in favour of leaving the European Union in 2016 when he dismissed their concerns about the impact on the economy.

Danker said there were rumours that Sunak might announce more new taxes for business as he comes under pressure from other ministers to provide more cash for their departments.

“There is a fundamental inconsistency where the government wants to unlock business investment, but its tax policies do the opposite,” he said. “You cannot will the ends and ignore the means to turbocharge the economy.”

Danker also took a swipe at Johnson’s promise to “level up” Britain’s poorer regions which has so far been short on detail.

“Rather than a levelling up plan that builds more tennis courts, let’s have one that regenerates Britain’s high streets and industrial heartlands,” the CBI boss said.

As well as ruling out new taxes, the CBI urged Sunak to extend his incentive for business investment beyond 2023, overhaul a property levy to encourage investment in energy efficiency and require regulators to prioritise investment.

Source: reuters

Syria executes 24 people convicted of deliberately starting wildfires UK Foreign Minister says Britain and India must deepen defence and economic ties

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”