Iain Anderson FRSA

Iain Anderson FRSA, co-founder and executive chairman of H/Advisors Cicero, told the ICAS CA Summit 24 that businesses were “feeling the pain” of the autumn budget announcement and encouraged the government to do more to clearly communicate its plans for growth.

Mr Anderson said: “Is the budget hard for many businesses? Yes, no doubt about that. But those business leaders have been talking for so long now about having a prosperous and happy economy.

“I want the government to go faster. This is about projecting the investment plan for Britain. Is that coming through clearly?

“Businesses are saying, ‘we can see and hear the pain, but explain the gain’. That’s where the government has got to get to, and I’m keen they get there faster.”

However, he also praised the government’s levels of engagement with businesses since the election.

Mr Anderson said: “This is a very consultative government. There has been an awful lot of engagement already. My challenge back to businesses is: are you framing things in way that is going to create policy change in the right way and gain traction?”

The topic of business trust in the new Labour government was also raised by Lord Mark Price, former minister of state for trade and investment and ex-managing director of Waitrose, who commented during a panel discussion that the Labour government had “quickly eroded a lot of trust” of UK businesses.

“We’ve got into a position now through the budget where I think a lot of businesses feel that they’ve been let down, what they heard before is not what they’re getting,” Lord Mark Price said.

“I think the changes in national insurance are going to be extraordinarily penal. They are going to result in job losses and higher prices.”

Mr Anderson and Lord Price were among a range of influential voices from business, finance and technology which addressed CA Summit 24, the annual two-day business and financial industry event held by the Institute of Chartered Accountants of Scotland (ICAS), which was broadcast live from London on 19 and 20 November.

Hosted by BBC’s chief economics correspondent Dharshini David, the two-day event explored topics ranging from artificial intelligence (AI) innovation to the UK’s economic future under the Labour government.

Bruce Cartwright, ICAS CEO, said: “Our goal for the CA Summit 24 was to bring together some of the UK’s brightest industry voices to tackle the key issues at the heart of business and finance in the UK today.

“The event certainly delivered, expertly chaired by Dharshini David, the panel discussions and fireside conversations proved enlightening and informative for those that attended.

“We’re already looking ahead to making next year’s CA Summit 25 even bigger and better.”