Chancellor Jeremy Hunt has been urged to make “bold decisions” that can enable growth “without breaking the bank”.
The British Chambers of Commerce (BCC) said planning reform to accelerate infrastructure projects and a modernized energy network could help unlock billions of pounds of investment.
In a filing ahead of Hunt’s autumn statement next month, the BCC also called for an extension of the “full-spending” tax relief – which rewards businesses for spending on assets such as machinery – as well as a freeze on business rates.
The Chancellor has already warned of “difficult decisions” and rejected the idea of tax cuts.
BCC general manager Shevaun Haviland said: “We believe he has some options available to him.”
Under pressure: Jeremy Hunt has already warned he will have to make “difficult decisions” and dismissed the idea of tax cuts
“Businesses have told us they have billions of pounds of private investment waiting to be pumped into the UK economy, but our ramshackle planning system and overstretched network are holding this back.”
“It’s important we unlock this money and take action to put UK business in the best possible position.”