ICAEW Poll Supports Burnham’s Investment Plans but Warns of Tax Risks
A poll conducted by the Institute of Chartered Accountants in England and Wales (ICAEW) shows support for UK Prime Minister Andy Burnham's plans to boost investment into towns, infrastructure, and local economies. However, respondents emphasized concerns over business taxation as a top priority for the new government. Nearly 57% of ICAEW members surveyed said easing the tax burden on businesses should be Burnham’s first action in office. They cited recent changes to the tax system that have created uncertainty and discouraged investment, particularly highlighting last year's increase in employer National Insurance contributions as harmful to small businesses. Regulation was also a key concern, with 43% calling for reduced regulatory burdens. Despite these concerns, there is backing for Burnham’s proposed 'good growth funds' aimed at combining public and private investments. Skills development and workforce training were seen by over a third of respondents as important priorities.
Topics: business taxation investment policy regulatory burden UK government