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Media advisory: Spring Budget 2021 – What could it mean for the business community?

24 February 2021, London – 2021 will be a defining year, determining the direction of a more competitive, greener, and dynamic UK economy. It’s also the first budget since the UK and EU Trade and Cooperation Agreement. The coronavirus pandemic has heavily impacted the business sector, the SME community, and made survival the top priority for many business leaders over the past year. 

Throughout 2020, The Chartered Institute of Management Accountants (CIMA), the world’s largest body of management accountants, has advocated in support of UK businesses and provided them with resources to navigate the pandemic. It also believes that more must be done to help them evolve and thrive as the UK prepares to reopen its economy. 

Andrew Harding, FCMA, CGMA, Chief Executive – Management Accounting at CIMA, said: 

“After a year of disruption and harsh restrictions, many businesses have been pushed to their limits. The UK Government must now focus on devising a long-term plan which will sustain the economy and boost overall productivity.” 

“We are urging the Chancellor to prioritise investment in his forthcoming budget so businesses can plan for the future. As the furlough scheme is wound down, the Government must take measures to boost business resilience such as setting out tax plans over the next two years and cutting employers National Insurance contributions.”

CIMA is calling on the Chancellor to: