Wednesday March 12, 04:09 PM
UK CBI extends cautious welcome to Darling's maiden budget
LONDON (Thomson Financial) - The UK's biggest employers lobby today issued a cautious welcome to Chancellor of the Exchequer Alistair Darling's maiden budget.
Richard Lambert, Director-General of the Confederation of British Industry, was conciliatory.
'The Government has much to do if it is to win back its enterprise credentials, but the measures announced today are a credible first step on the road,' he said.
'Although the anger over Capital Gains Tax is still simmering, entrepreneurs and smaller businesses will recognise that the Government has made an attempt to listen,' he added.
Still, he said Darling's economic growth assumptions are optimistic and that they leave the Chancellor with little room for manoeuvre should things take a turn for the worse.
'Borrowing also looks set to rise by a further 20 bln stg over the next four years, which is a cause for concern,' Lambert added.
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