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9 in 10 firms hit by Covid-19 maintained their commitment to competitive workplace pensions, according to a new CBI/Mercer survey
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Matthew Fell, CBI Chief Policy Director, said businesses would welcome the Chancellor’s Plan for Jobs pivoting from furlough to economic recovery.
“Nearly all of us will need to gain new skills between now and 2030. An expanded role for Job Centre Plus should be a step towards them becoming genuine ‘jobs and skills hubs’, supporting all workers in their search for career progression and higher wages. Businesses are committed to playing their full part in training and re-skilling the workforce of tomorrow as we move towards a new economy.”
Tony Danker, CBI Director-General, said that Labour's ambitions to decarbonise the economy and build a better future for everyone through improving education are shared by business. Lifelong learning is the bedrock of productivity, growth, and in turn, rising wages.
“Commitments on R&D spending, investment and digital skills signal an understanding of core business priorities essential for delivering a dynamic and future-focussed economy. Business will now want to see more about their plans to unlock investment and innovation to achieve these goals.”
Rain Newton Smith, CBI Chief Economist, said it's hugely welcome to hear Labour describe itself as pro-business.
“While the diagnosis is right, some of the prescription requires a second opinion. For example, acting in isolation on digital services tax could risk undermining hard won progress on an international agreement. And we need to recognise, not simply criticise, the important role played by public service providers across the UK."
Tony Danker, CBI Director-General, said:
“With businesses just recently starting to recoup their losses a freeze in rates will provide much needed breathing room, as will the rise in rates relief for SMEs. But going it alone on digital services tax is high risk and could undermine the UK's competitiveness at a time when need to be prioritising going for growth."
Matthew Fell, CBI Chief Policy Director, said that businesses are playing their part, with many planning pay rises, stepping up investment in training, widening talent pools and doubling down on investment in digital and automation.
“Yet the scale of the challenges facing businesses on multiple fronts underlines the need for a COBR-like Cabinet Committee for recovery, enabling much faster action to alleviate short-term pressures.”