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Right steps, but more action needed to boost growth

Commenting on the Chancellor’s speech at Conservative Party Conference

Baroness Jo Valentine, Chief Executive of London First, said:

“The Chancellor is right to emphasise the importance of cutting the deficit, but this needs to be accompanied by more action to support growth. Cutting employment regulation is welcome as are the other measures of deregulation the Chancellor set out . But these need to be accompanied by action to boost demand — like raising the income tax threshold to £10,000 more swiftly and giving a firm date for the removal of the growth destroying 50p top rate of income tax; and laying out the plans now for increased investment in growth supporting infrastructure.”

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