In response to an article from Clive Jacobs, Chairman of Jacobs Media Group, calling for the Government not to focus on the City at the expense of all other sectors during the Brexit negotiations, BDO’s Stuart Lisle wrote to City AM expressing our support. The published letter is reprinted below.
[Re: The Brexit Advice I Would Give Theresa If I was At Number 10]
Clive Jacobs is right to say that, in its Brexit negotiations, the Government shouldn’t focus on the City at the expense of other sectors.
Three pieces of the jigsaw that policy makers must put together
At BDO we think that there are three things that the Government needs to get right to build a thriving post-Brexit ‘new economy’. The UK Government needs to do more to help its mid-sized entrepreneurial businesses, it needs to ensure open and simple access to world markets and global talent and – in support of Mr Jacobs point – it needs to balance growth by region and by sector.
But how should they do this?
Our New Economy report suggests twenty two policies to adopt including simplifying tax by aligning National Insurance and Income Tax, creating Long-Term Lending Trusts to give mid-sized businesses (what we in BDO call the economic engine) greater access to finance and investing in smart infrastructure to help businesses and local communities to flourish in an ever-increasingly digital world.
Stuart Lisle is Tax Partner at BDO.