Press release

Budget underscores intentions to encourage business investment

27 October 2021

Debapratim De, senior economist at Deloitte, comments on the Chancellor’s Budget and Spending Review:

“Today’s Budget signals the government’s commitment to set public finances on a sustainable footing while funding a bigger post-pandemic state. Previously announced tax rises and the OBR’s upgrades to growth forecasts have enabled the Chancellor to perform this difficult balancing act. But, his current plans leave little headroom against the newly announced fiscal targets, which could be easily eliminated by future downgrades to growth forecasts.

“With the super deduction and a raft of additional incentives announced today, the budget underscores the government’s intentions to encourage business investment, in a bid to boost productivity, as the economy emerges from the deepest downturn in more than a century. This is consistent with findings from the latest Deloitte CFO Survey, which shows that amid labour and supply shortages, and with the pandemic and Brexit driving change, corporates are focused on raising investment. CFOs are placing greater emphasis on increasing capital expenditure now than at any time in the 14-year history of our survey.”



Note to editors

You can follow us on Twitter: 

@DeloitteUK for live comment

Deloitte spokespeople

Deloitte has a range of spokespeople available to comment on today’s Budget. They can be reached on 020 7007 3333 or 0207 303 5054 or one of the following numbers:

• Debapratim De - Senior economist (07789 036 944)

• Amanda Tickel - Head of tax policy (07920 270 964)

• Rachel McEleney - Personal tax (07826 891 752)

• Alison Lobb – Corporate tax (07826 952 940)

• James Warwick - Employment tax (020 7303 6924)

• Andrew Clarke – Indirect tax (07824 895 798)

• Katherine Lampen – Climate change/sustainability (020 7303 6924 / 07920 270 964)

• Gerry Biddle – Business rates (07826 952940)

About Deloitte

In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see for a detailed description of the legal structure of DTTL and its member firms.

Deloitte LLP is a subsidiary of Deloitte NSE LLP, which is a member firm of DTTL, and is among the UK's leading professional services firms.

The information contained in this press release is correct at the time of going to press.

For more information, please visit