The chancellor has said his Budget on 28 October will provide measures to reduce the cost of doing business and help the UK’s entrepreneurs.
Speaking to The Times, John Healey said he is as focused on cutting the cost of business as he is on reducing the cost of living for consumers.
Admitting that many companies are facing “a lot of pressure”, Healey said: “I want to be a chancellor who backs business in Britain making a profit, those entrepreneurs who in the end are the ones who challenge the status quo, come up with innovative ideas and are trying, some of them through sheer bloody-mindedness, to keep going through these sorts of pressures, which is what they’ve done.
“If you’re not making a profit, you’ve got nothing to put back into the business. And for the people who start up these businesses, the ones who really thrive and grow, they have to make a profit and they will be much more inclined to put it back into their own business. But we want it to grow here and stay here.
“And so when I talk about the cost of business, and recognising that in the same way as we’re recognising the cost of living pressures, I’m conscious of that as I go into the Budget for both businesses and households.”
