CIMA: Burnham should use this refresh to back business with urgent tax and skills reset

With the Prime Minister, Andy Burnham MP appointed, The Chartered Institute of Management Accountants (CIMA) is calling on the Government to put business growth at the centre of its reset, starting with urgent tax and skills reform to reduce the cost of doing business, support investment and give firms the certainty they need to grow and drive economic growth.

Andrew Harding, FCMA, CGMA, Chief Executive of The Chartered Institute of Management Accountants, said: “The new Prime Minister has an immediate opportunity to reset the relationship with business. That must start with tax and skills reform. Businesses need a competitive tax system and access to workforce training support that rewards investment, employment and growth.”

“We’re asking government to reduce the cost of doing business, give companies long-term certainty and unlock the skills needed to drive productivity across the UK.”

CIMA’s key asks for the new Government are:

• Lead with business tax reform: publish a rolling five-year business tax roadmap covering corporation tax, employer taxes, capital allowances, R&D reliefs, VAT and business rates.
• Cut the cost of employment: reduce employment-related taxes and address fiscal drag so firms can hire, train and retain staff with confidence.
• Remove barriers to growth: review tax thresholds, VAT rules and marginal rates that discourage SMEs from scaling or individuals from taking on more work.
• Back skills and retraining: expand access to lifelong learning, protect Level 7 apprenticeships and introduce a practical right to retrain.
• Drive regional productivity: create employer-led Productivity & Skills Hubs and devolve skills planning within a clear national framework.
• Help SMEs scale: Reinstate and modernise the Growth Accelerator Scheme alongside an expanded Business Growth Service that provides coaching, mentoring and specialist advice to growing firms.

To secure the talent businesses need now and, in the future, CIMA is calling on the government to rethink its approach to the Lifelong Learning Entitlement, extending funding to professional qualifications and Level 7 apprenticeships, increasing access routes to learning. As students await their exam results, ministers should use the summer to set out a clearer plan that widens access, supports future talent, and gives employees the skills they need to thrive in a changing economy.

Harding continued: “Career paths are no longer linear, and businesses increasingly need employees with critical thinking, strategic insight and the ability to adapt as technology and AI reshape the workplace.

“The government has a clear opportunity to address skills shortages and support retraining of employees with a plan for lifelong learning. Without decisive action, the UK is overlooking existing talent and risks falling behind in developing the workforce needed to support business growth and economic resilience.”