91����

Commenting on the Autumn Statement, John Dickie, Chief Executive of 91����, said:
​“The Chancellor’s wide-ranging reforms are a serious attempt to take the handbrake off the economy, but the growth forecasts show that more is needed to move the UK into the fast lane. 

​“Making full capital expensing permanent and unlocking pension funds will boost investment, but the lack of a funding deal for Transport for London and a failure to re-instate VAT-free shopping for goods for international visitors are two big misses for the capital.”

On investment measures, John Dickie said:
​“Making full capital expensing permanent will encourage more long-term investment into the UK and put us on a path to a more productive economy.

​“Unlocking pension funds to invest in high-growth companies and making ISAs more flexible will encourage more savers to back British businesses.

​“The Chancellor simultaneously acknowledged that he cannot continue to tinker with short-term changes on business rates, but then applied a short-term sticking plaster. The absence of any wider reform of business rates is a missed opportunity to deliver a system that is fit for today’s modern economy.”

On planning and housing reforms, John Dickie said:
​“91���� has long called for reform of the planning system, including by speeding up application decisions by leveraging private sector resources. The Chancellor’s announcement is a good first step but these reforms should now be extended to all significant housing and commercial applications.”

On transport, John Dickie said:
​“The failure to agree a long-term capital funding deal for Transport for London (TfL) is a case of politics trumping economics. TfL needs the cash to invest in maintaining and upgrading the capital’s transport network to drive growth, support its supply chain across the country and keep London moving.”

On tourism, John Dickie said:
​“The Government has missed an opportunity to launch an independent review of the benefits of VAT-free shopping on goods for international visitors. This would more than pay for itself by encouraging tourists to spend in shops, hotels, bars and restaurants across the UK rather than abroad.”