Against a backdrop of growing macro-economic uncertainty, Chancellor Kwasi Kwarteng has delivered a "mini-budget" or fiscal statement today (Friday 23 September) aimed at reassuring markets, the business world and, of course, voters.

While discussions in the mainstream media will no doubt focus on the impact of tax cuts, and whether they are a viable route out of the situation we are facing, there were a number of announcements which ACE members will immediately welcome.

Ahead of the Statement, ACE called for "an assured programme of projects." This was delivered by the announcement that the planning process around major infrastructure projects will be simplified, more than 100 projects will start construction by the end of 2023, and 38 new investment zones – building on the freeport concept – will be created.

Once logged in, ACE members can download a briefing exploring the announcements in detail and assess how it might impact on their own operations and business outlook. 

In his media statement, ACE CEO Stephen Marcos Jones said:   “Ahead of the statement we called for an assured programme of projects from the public sector to drive growth and support jobs across the UK. This is why we were pleased to see positive steps announced on expediating 100 infrastructure projects and the establishment of new investment zones.

“While we await more detail of how the planning process will be simplified for significant infrastructure projects in forthcoming legislation, the announcement that 100 projects have been earmarked for construction to start by the end of 2023 will be welcomed by our members and the wider industry.

“The establishment of 38 investment zones is also encouraging. Building on the Freeports concept, they will help to stimulate private sector investment, encouraging development across the country, driving levelling up ambitions, supporting regional development and creating jobs.

“Business needed Government to deliver a structured plan to tackle the increasingly worrying macro-economic situation we’re facing. It has done this with a raft of measures aimed at delivering short-term growth and cutting taxes. What it has not offered is a view on how medium to longer-term investments can also support our economy back to prosperity while delivering ambitions around productivity, Net Zero and Levelling Up.”

Alongisde our policy focused briefing, we have also created a dedicated memebr guide which explores what the changes mean for people/HR and small business leaders.  

Download your briefings below.