The @CBItweets #Budget2016 submission
Businesses are committed to delivering jobs, investment, raising skills and living standards - and will work with the Government on implementing the Apprenticeship Levy and National Living Wage.
But the rising 'cumulative burden' has now crept far enough. Business rates, together with recent Government policy changes, including the National Living Wage and the Apprenticeship Levy, will cost businesses around £9 billion every year by 2020-21 and around £29 billion over the course of this Parliament.
So the CBI urges the Chancellor not to increase this 'cumulative burden' on business further, and instead calls for a series of 5 targeted steps to get behind businesses and support their growth ambitions.
Update business rates #Budget2016
Tackle the UK's outdated Business Rates regime, by switching the uprating of the tax rate ("multiplier") from RPI to CPI, more frequent revaluations and taking the smallest businesses out of the tax altogether.
Be clear with energy policy
Set a clear direction on energy policy through simplifying energy efficiency taxes, setting out the future of the Carbon Price Floor and providing clarity on the Levy Control Framework, to support investment in low-carbon energy.
Support investment through increasing the scope of capital allowances and keeping the UK competitive on interest deductions for Corporation Tax.
Propel innovation by broadening access to existing research and development (R&D) incentives and cutting the cost of recruitment of high-skilled employees for smaller innovators through a payroll incentive.
Stability in tax relief
Provide stability for employees and companies by maintaining upfront National Insurance Contribution tax relief on pensions and marginal rate relief for middle-earning families. Removing these would be a false economy, damaging pension saving and increasing the fiscal load on government in years to come.