CHANCELLOR Jeremy Hunt yesterday promised that he was backing British businesses with his Autumn Statement.
We asked eight bosses for their take.
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Faced with a flatlining economy Mr Hunt knew he had to focus on growth.
Manufacturers celebrated being listened to on tax incentives.
Mr Hunt also sped up planning rules and helped the hospitality sector.
But there were few wins for big retailers which employ thousands.
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AMANDA Blanc is the CEO of insurance group Aviva.
She said yesterday: “This pro-growth package puts us on the right path. It should help build confidence and stimulate long-term investment and jobs.”
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ALEX Baldock, chief executive of Currys, said: “If the Government is serious about supporting businesses of all sizes, promoting growth and reducing costs for consumers, it must address our outdated business rates system.”
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ZOISA North-Bond, CEO of Octopus Energy Generation, said: “We’re over the moon to see the Government take the handbrake off the renewables gridlock.
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“It will help us bring cheaper, cleaner energy to Britain faster.”
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SAGE boss Steve Hare said: “The mood music is good, but there are some missed opportunities still for small businesses to invest.
“But overall this Autumn Statement was a lot more pro-business and pro-growth.”
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CRYSTAL Doors chief executive Richard Hagan said: “Being able to claim in the first year and have certainty really helps small businesses across the country to be able to make investment plans over five years, like big businesses can.”
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GREENE KING boss Nick Mackenzie said: “The Chancellor’s decision to freeze alcohol duty is a lifeline for many pubs and breweries.
“The extension to the business rates relief scheme and freezing the rates multiplier are also both welcome.”
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DAMON de Laszlo is chairman of Harwin, which makes electronic parts for satellites and aircraft with £60million turnover and 300 staff.
He said: “This statement means we can really plan and take the lid off our investments to grow the business.”
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PHILIP Jansen, BT Group chief executive, said: “Today’s decision to make full expensing permanent is a welcome one.
“It gives businesses like ours long-term certainty and shifts the investment environment from good to great.”
WELL A.I. NEVER… HE’S BACK
JUST five days after a shock coup spectacularly backfired Sam Altman, the founder of OpenAI, has returned to lead one of the world’s leading artificial intelligence firms.
OpenAI was plunged into chaos last Friday night after it ousted Mr Altman.
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The drama continued when its president and co-founder Greg Brockman quit in protest and Microsoft swooped on Mr Altman and Mr Brockman to lead its own AI division.
More than 500 employees said they would also quit for Microsoft if the current OpenAI board did not resign.
In a big twist OpenAI announced yesterday that it had agreed for Mr Altman, 38, to return alongside a new board with Mr Brockman too.
Mr Altman said that he was “looking forward to returning to OpenAI and building on our strong partnership with Microsoft.”
Mr Brockman posted a picture of his team saying: “We are so back.”
DIY GIANT SALES DIP
SHARES in B&Q owner Kingfisher fell by almost seven per cent yesterday after its second profit warning in as many months.
The group blamed warm autumn weather for delaying demand for its heating and insulation products in France.
This has led to group like-for-like sales dipping 3.9 per cent.
In the UK it said its speedy delivery servic helped it grow sales at Screwfix by seven per cent and gain market share.
PAPER SELL FEAR
THE Government has said that it could intervene on the proposed sale of the Telegraph newspaper group to an Abu Dhabi backer.
Media minister Lucy Frazer said she had concerns about the country influencing operations as its laws prevent criticism of the Emirates or coverage harmful to Islam.
The newspaper was seized by Lloyds Banking Group after its owners defaulted on a £1billion loan.
Abu Dhabi-funded RedBird IMI could take majority control in a £1.16billion deal.
THE maker of Robinsons squash hiked prices by more than 10 per cent, but consumers are still buying its products.
Britvic, which also makes Tango and J20, said it sells 1.75billion litres in the UK, with sales up 6.6 per cent to £1.7billion last year.
REFINERY CLOSES
SIR Jim Ratcliffe’s INEOS has said it could shut its Scottish oil refinery by 2025, putting hundreds of jobs at risk.
Owner Petroineos, a joint venture between PetroChina and Ineos, said it had no choice with rising costs and global pressures but to turn the Grangemouth refinery into a fuels import terminal.
As many as 500 jobs will be at risk. The company said the new terminal would import fuels into Scotland.
Sir Jim is still to finalise his Manchester United stake purchase, a year after talks.
