Call for measures to boost business

The manufacturers organisation EEF will release details at its national conference of its submission to the Budget later this month, including calls for a target to cut the regulatory “burden” on business.

The business group will also suggest a one per cent reduction in the employer national insurance contribution rate for firms hiring 18 to 24-year-olds.

Business Secretary Vince Cable and Labour leader Ed Miliband will both address the conference.

EEF chief executive Terry Scuoler said: “The Chancellor must use his Budget statement to send out a clear signal to business that now is the time to be increasing investment and that Britain is the place to do it. He should now spell out his ambitions for the economy and his plan for creating the business environment that will help achieve it.

“The Government has a clear plan for reducing its deficit. It needs to match that with clearly articulated ambitions for the economy that provide clarity for business about where the Government will focus its resources for the rest of this parliament. These ambitions must have the same clout across Whitehall as the fiscal mandate.

“The Budget should also bring forward immediate measures that will help business to deliver the large increase in investment on which the Government is banking to deliver growth this year. These include a temporary increase in capital allowances to aid cashflow and ensuring that the National Loan Guarantee Scheme is widely available and accessible to business.”