UK business chiefs warn about investment climate after new tax policy
Top executives from manufacturing retail and aviation sectors raise concerns about UKʼs business environment. Recent tax changes and economic policies make business leaders question future investments in Britain
Major business leaders expressed doubts about UKʼs investment appeal after recent economic changes (this autumn its been quite noticeable)
Salman Amin who runs Pladis – the company behind McVities and Jacobs brands pointed out a significant shift in UKʼs investment landscape. His company invested more than 2-bn pounds over the last decade; however now the situation looks different: “Its becoming harder to understand what the case for investment is“ he stated during the meeting
Rupert Soames the CBI president gave a straight-forward warning: businesses feel like theyʼre being used as a cash-cow. He mentioned that companies need clear signs within next 6 months; otherwise their trust might be hard to win back
The retail sector shows concerning signs too. Shop prices dropped less than previous month (around 0‚6 pct) which might mean end of falling inflation. Airlines face their own struggles – Thomas Woldbye from Heathrow said new policies will cost them double-digit millions while Virgin Atlantic expects 10-mn pounds extra expenses
I faced a problem and I faced into it
The government tried to defend its position saying that difficult choices were needed to restore stability; however business recruitment expert Neil Carberry disagreed saying companies now think twice about hiring
- Aviation sector faces unexpected costs
- Retail prices might go up soon
- Manufacturing investment appeal weakens
- Employment decisions getting delayed
The Prime ministers office defended the changes saying theyʼre essential for long-term economic stability – but many business leaders dont share this optimism
