Commenting on the Budget presented on Wednesday by Rachel Reeves, Chancellor of the Exchequer, Peter McGettrick, Chairman of the British Safety Council, said:
“This was a bold and significant Budget intended to drive growth, encourage investment, and support those in work. While challenges to increase infrastructure, housing, and public services investment are substantial and will require difficult decisions, it will be essential to approach these in a fair and balanced manner.
“The Chancellor kept her promise not to increase taxes on people’s payslips, though the smallest employers were shielded from a rise in employer NICs, others will face higher bills, potentially impacting new job creation. For working people, higher National Minimum Wage rates are welcome given rising living costs, as are planned increases to income tax thresholds for thousands more in work, and changes to the Carers’ Allowance.
“A significant challenge remains in supporting those economically inactive due to long-term health conditions to re-enter the workforce, while ensuring welfare provision remains fair and sustainable. We anticipate the forthcoming ‘Get Britain Working’ White Paper, as well as practical steps to shift healthcare towards a preventive model.
“We appreciate the Budget’s targeted responses to societal challenges faced by the workforce, including the safety risks from shoplifting and violence, and continued funding to address the Grenfell legacy. However, the lack of focus on mental health and wellbeing investment was somewhat surprising, especially given its impact on productivity and economic growth.
“The announced investments in future technology, specific industries, and R&D should provide a substantial boost across the UK, aiding in job creation and bolstering confidence.”