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Media comment: Chancellor’s Statement doesn't look far enough ahead

24 September 2020

“The Chancellor’s Statement earlier is to be welcomed on many fronts but has not looked far enough ahead. The statement has missed an immediate opportunity to tackle the long-term challenges faced by the UK economy, which this crisis has only exacerbated (e.g. UK’s faltering productivity, widening skills gap and failing social mobility). This will likely prove detrimental for businesses, people and the economy as we seek to recover from the COVID shock. Over the coming weeks, we look forward to the government putting a greater focus on key areas such as providing new training opportunities to reskill the workforce and for those who have lost their jobs to enhance recovery and improve productivity. Additionally it is essential that the government provides businesses with greater certainty in areas under its control such as taxation, regulation and trade to help them make better investment decisions for the future.”

Andrew Harding, FCMA, CGMA
Chief Executive — Management Accounting
The Chartered Institute of Management Accountants, part of the Association of International Certified Professional Accountants