Spring Statement 2022: KPMG CEO comment

More needed to give businesses confidence to invest, says KPMG.

Commenting on the Spring Statement, Jon Holt, Chief Executive of KPMG UK, said:

“This was always going to be a difficult balancing act set against a highly volatile back drop of rising inflation, disrupted global supply chains and material uncertainty around the true economic impact of the conflict in Ukraine.

“While these announcements mark steps in the right direction, significant action is still needed to help businesses feel confident to open their cheque books and invest. We welcome the Chancellor’s commitment to cut and reform taxes on business investment, which will help underpin businesses’ willingness to invest further and in turn drive the UK’s economic growth.”

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About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 15,300 partners and staff.  The UK firm recorded a revenue of £2.43 billion in the year ended 30 September 2021.

KPMG is a global organization of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 145 countries and territories with more than 236,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.