CBI calls for business rates deal

THE CBI will today urge the Chancellor to use next month’s autumn statement to stimulate business investment by focusing on areas including energy, infrastructure and job creation.

Joh Cridland said CBI plans would be worth £1.3bn cost. Picture: Getty

In a letter to George Osborne, CBI director-general John Cridland said the group’s proposals would cost about £1.3 billion, but were “absolutely vital” to keep the economy growing.

He called for reform of the business rates system to encourage empty shops to be filled.

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The measures should be paid for through efficiency savings, Cridland added, as there are still “many years to go to finish the job” of cutting government debt.

“We must not forget the job on deficit reduction is only half done and needs finishing,” he said.

“This needs to go hand in hand with business investment to create jobs, raise living standards and drive the recovery.”