Commenting on the Budget set out today (Wednesday) by Rachel Reeves, Chancellor of the Exchequer, Peter McGettrick, Chairman of British Safety Council said:
“This was a bold and significant Budget which aims to boost growth and investment and support people in work. The challenges to increase investment in infrastructure, housing and public services are real and will require some tough choices, but it will be important to do this in a fair and balanced way.
“The Chancellor clearly honoured her promise not to increase taxes in people’s payslips, but while the smallest employers will be protected from an increase to employer NICs, many others will see their bills go up which could put new jobs at risk. For working people, increases to National Minimum Wage rates will be welcome given the rising cost of living, as will the planned increase to income tax thresholds for many thousands more in work, as well as changes to the Carers’ Allowance.
“A key challenge is how to support people who are economically inactive due to long-term health conditions to return to work, and make sure that our welfare provision is fair and sustainable. We look forward to the forthcoming ‘Get Britain Working’ White Paper alongside practical measures to shift healthcare to a more preventative approach.
“We welcome the targeted responses in the Budget to societal challenges faced by people in work, such as threats to safety from shoplifting and violence, as well as continued funding to address the legacy of Grenfell. A lack of investment in mental health and wellbeing was perhaps a more surprising omission, when we know the cost that poor mental health and wellbeing has on our productivity and growth.
“Investment announced in future technology, specific industries and R&D should give a real boost to many areas of the UK, by helping to create new jobs and shore up confidence.”