Local leadership and business confidence must combine to drive growth

Commenting on fiscal devolution, Richard Bray, Managing Partner for UK Places at Deloitte, said:

“Today’s Budget underlines the ever-growing importance of the UK’s regions and nations to the growth agenda. 

“There is huge potential for the UK in having local leaders making joined-up decisions on skills, transport, housing, infrastructure and business investment, as well as in developing long-term plans that harness the distinct strengths of their economies, backed by the funding and revenues to turn these into reality. 

“But devolution alone is a means, not an end, to UK-wide growth, and new powers do not generate investment on their own. Businesses need the confidence and stability to innovate, invest and hire, and the measures announced nationally today to bring down the cost of business are important in enabling them to do this. 

“Ultimately, growth in every postcode will come from the combination of strong and empowered local leadership laying the groundwork and creating the opportunities for confident and resilient businesses. The opportunity now is to turn greater autonomy into tangible economic growth across the UK.”

ENDS

Note to editors

Deloitte spokespeople

Deloitte has a range of spokespeople available to comment on today’s Budget. They can be reached on 02920 927541 or one of the following numbers:

• Amanda Tickel – head of tax and trade policy (+44 7920 270964)
• Debo De – chief economist (+44 7887 629107)
• Rachel McEleney – personal tax (+44 7774 337581)
• Alison Lobb – corporate tax (+44 7774 337581)
• Michael Nicolaides – employment tax (+44 7586 511104)
• Toby Price – stamp duty (+44 7824 895798)
• Andrew Clarke – VAT (+44 7887 629107)
• Chris Baldwin – business rates (+44 7785 682226)
• Ed Roddis – public sector (+44 7785 682226)
• Peter Johnson – FS/bank tax (+44 7586 511104)
• Annis Lampard – private tax (+44 7824 895798)
• Richard Bray – Places (+447990434703)
• Ian Goodsell – Private client (+447990434703)

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