Business organisation the CBI’s director-general Carolyn Fairbairn described today’s Budget as a “breakthrough for skills”.
She said: “There has never been a more important time for the UK to sit at the global top table of technical education for young people.
“Firms will be looking for ongoing partnership with the government as they try to make the Apprenticeship Levy work.
“However, with inflation rising and the cumulative burden weighing on businesses’ shoulders, limited relief for firms hit hard by business rates falls short.
“Firms are wholly committed to the health and wellbeing of their people, and are pleased to see an increase in spending on social care.”
However, the British Chambers of Commerce (BCC) hit out at the “noticeable and disappointing absence of any new support for exporters, or measures to encourage international trade.
“As we begin the Brexit process, it’s more important than ever to get UK businesses trading their goods and services with the world. The government must do more to incentivise and promote companies to be ambitious and trade to new markets,” said BCC director of research and economics Mike Spicer.
