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Response to the pre-election budget (24 Mar 2010)

Baroness Jo Valentine is Chief Executive of London First, the business organisation whose members include London’s biggest private sector employers. She said:

“Perhaps the best thing about the pre-election budget is that it was boring – the last thing London businesses needed was more unexpected tax hikes or other surprises from the Chancellor. The real budget, the one that matters, will be the first one after the election, whoever wins.

“We welcome support for continued investment in crucial infrastructure, from transport, such as Crossrail and High Speed Rail, to energy.  But business would have liked more detail of how the Government intends to reduce public spending; and a commitment that the 50p higher rate of income tax is as temporary as the bankers’ bonus tax.”

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