Rachel Reeves sought to coin a new catchphrase in her conference speech, noting ‘that’s the Britain we’re building’. If growth is to be ‘built by the many’ and in turn ‘felt by the many’, the Chancellor will need to unlock investment by businesses. We have identified one opportunity that could provide some with further incentive to do so.

Businesses making long-term investment decisions favour stability in the tax system (particularly for a tax incentive to act as a driver to encourage investment), and so in the main, we would hope that the Chancellor will avoid the urge to tinker too much with the regime in her upcoming Budget.