ACCA Urges Chancellor: Cut Business Costs or Stunt Growth
Gemma Gathercole, the strategic engagement lead at ACCA, has called on Chancellor Rachel Reeves to prioritise business growth and economic stability. Gathercole warns that high employment taxes and poor HMRC services are hindering businesses and dampening economic confidence.
ACCA members are increasingly worried about the economic outlook, with 94% lacking confidence and almost two-thirds predicting a negative future for their small business ideas. The association warns of mounting pressures on my business, with employment taxes identified as the biggest barrier to growth by two-thirds of accountants.
Gathercole urges the Chancellor to cut business costs, stating: 'Cut business costs or cut growth.' She is joined by other accountants who call for reduced business costs to boost growth, with 30% of ACCA members supporting this measure. Complex tax rules and issues with HM Revenue & Customs, such as long call waiting times and poor communication, are also major concerns for businesses.
As the Autumn Budget for 2025 approaches on November 26, 2025, ACCA members hope that the Chancellor will address these pressing issues. While there is no specific mention of reducing business costs at this time, accountants urge Reeves to focus on improving HMRC services and cutting employment taxes to support my business and boost economic growth.
