Published: 22 November 2023
BritishAmerican Business Offers a Transatlantic Response to the Autumn Statement
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BritishAmerican Business welcomes today’s Autumn Statement and the measures announced by the Chancellor to boost British business growth and investment.
Responding to the Autumn Statement, BAB CEO Duncan Edwards said:
“We commend the UK Chancellor’s bold move in making the ‘full expensing’ extension a permanent fixture. This significant tax incentive will help create certainty and encourage US investors to take a long-term view of the UK economy.
“In an effort to fuel long term growth and attract investment, BAB welcomes the substantial £4.5 billion funding commitment for British manufacturing to increase investment across a number of sectors. This ambitious initiative has the potential to significantly enhance transatlantic business growth and innovation collaboration.
“Following the successful AI Summit hosted in Bletchley Park earlier this month, we are pleased to see £500 million earmarked towards investment in AI Innovation Centres. This will help to ensure that the UK, along with the US, stays at the forefront of global AI leadership.
“We equally support the recommendations set out in the Harrington review, endorsed by the Chancellor today, particularly implementing a concierge service for large international investors and boosting funding for the Office for Investment. The concierge service for overseas investors is something other countries do very effectively, and that the UK now needs to excel at.”
About BritishAmerican Business
BritishAmerican Business is the leading transatlantic trade association incorporating the British-American Chamber of Commerce in the US and the American Chamber of Commerce in the UK.
We are committed to strengthening the economic corridor between the United States and the United Kingdom by supporting policies and actions that protect and enhance the environment for transatlantic trade and investment on behalf of our members.
We convene and serve a growing network of companies and business leaders through networking opportunities, bespoke programming and marketing platforms.
We actively promote trade and investment and support those who make the transatlantic corridor part of their business growth ambition.