The employers’ NIC increases in the 2024 budget have significantly increased the cost base for many businesses. Employers need to have the confidence to hire again.

Capital providers need to be encouraged to invest more. Lack of certainty and an increasing tax base have had the opposite effect. Uncertainty about recoverability of tax relief deters companies from making relief claims.

Digital uptake boost productivity - but many SMEs lack capacity to implement it. Novel technologies go through several stages on route to market. Policies must target across the waypoints on the innovation journey, not focus on one firm or stage.

London-centric policy cannot meet the diverse needs of UK regions. Government needs to target investment to lower the cost of capital for difficult projects. Place-based growth policies must create conditions for novelty to emerge and thrive across the UK, while also unlocking economic potential of stagnating businesses.

A heavy, inconsistent regulatory burden - often designed without business input - holds firms back. Clear principles need to be established for simplicity, predictability, accountability and innovation by regulators.