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UK Finance urges government to deliver economic growth in Budget submission

October 07 2024

Trade association UK Finance has called on the government to deliver economic growth in the upcoming Autumn Budget.

In its Autumn Budget submission, UK Finance has focused on helping to deliver economic growth; clean energy and the transition to net-zero; and tackling fraud to keep people safe.

UK Finance has called for the roadmap for business taxation to include a specific plan for banks; the creation of a new, cross-government taskforce to tackle financial abuse; and the maintenance of the threshold at which first-time buyers pay Stamp Duty.

It also urged the government to make technology, social media and telecoms companies contribute to the cost of tackling economic crime.

In regard to net-zero, UK Finance called for investment roadmaps for key sectors of the economy to be published and a Stamp Duty rebate scheme to be introduced to 'incentivise homeowners to upgrade the energy efficiency of their homes'.

Commenting on the Budget submission, David Postings, Chief Executive of UK Finance, said: 'The new government has been clear that it is focused on delivering sustained economic growth, and financial services are vital in achieving that goal.

'The upcoming Budget is an important opportunity for the government to set out a clear plan for the UK. In our submission, we have called on the government to not only introduce measures to bolster growth, but also a range of ideas to help support households and businesses up and down the country.'

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