Jeremy Hunt Hints at More Business‑Friendly Moves Before the Autumn Statement
The politics of profit is heating up again— Jeremy Hunt has dropped a tantalising hint that he might roll out extra support for UK businesses right before next week’s forecast of fiscal policy. It’s a call that’s been hanging around the corridors of Parliament for a while: keep the tax rates low, keep the incentives high, keep the growth going.
Full Expensing – The Golden Ticket
The story revolves around a mechanism that had already made headlines in the Spring Budget: full expensing. This fancy-sounding policy lets companies write off the entire cost of any new IT equipment or machinery right away, cutting their taxable profit as though it never existed. Hunt vowed to keep it alive for at least three years, declaring it one of the “most competitive” tax approaches in the OECD.
Nadhim Zahawi’s “Please‑please‑please”
Term‑limited veteran Nadhim Zahawi made a pit‑stop at the House of Commons and begged the chancellor to make the policy permanent and ditch the “hated factory tax.” The former chancellor’s plea was met with a supportive nod plus a reminder that the U.K. can now punch a few lower business taxes over Europe.
Harriett Baldwin: “Let’s Keep the Gear Turning”
Harriett Baldwin, the Treasury Committee chair, is already bristling for a “sustainable economic growth without inflation” vision. She suggests that the “full expensing” should be scrutinised for its success rate. If the evidence shows it’s driving investment, who knows, the Autumn Statement could make it permanent?
- Is full expensing keeping the UK competitive? The chancellor claims it aligns the UK with countries that invest 2 % more of their GDP annually.
- Productivity gap? He acknowledges that Britain’s productivity sits 15 % lower than Germany’s—improvements hinge on higher investment.
Priti Patel: “Let’s Cut the Tax Cuts Further”
In a nudge to the chancellor, Priti Patel warned that the Autumn Statement might be the best moment to slash both personal and business rates again, particularly around business rates and corporate tax. “Help the people keep more of what they earn,” she urged. A gentle reminder for Hunt that he’s not the only one looking for a tax makeover.
Bim Afolami: “We’re All Eyes on the Chancellor”
Bim Afolami, the Treasury minister, replied that he’s listening, but that the Chancellor keeps such options under review, and every fiscal event is about taxes. Anything short‑term is balanced against long‑term fiscal health.
What’s Next for the Autumn Statement?
- Will full expensing be made permanent?
- Will there be a push to lower business and corporation taxes?
- Is the Chancellor planning new investment incentives for good job creation to close the 15 % productivity gap?
Tense, but it’s still about the same mission: keeping the U.K. businesses running like a well‑oiled engine—just with less friction from the taxman. Stay tuned, because next week could be the week that finally turns the lagging gear into a dyno‑ready locomotive.
