Main Menu

CBI president's outlook

Bilimoria calls for tax cuts after ‘nightmare’ year

Lord Bilimoria

Lord Bilimoria: ‘we have suffered and suffered’

CBI president Lord Bilimoria wants the UK government to tackle the impact of the pandemic by cutting taxes and introducing measures to encourage inward investment and exports.

The indian tycoon and founder of Cobra beer says businesses have been through a “nightmare” year but remain incredibly robust.

“If you can imagine what we have been through as businesses this year, it’s a nightmare – nothing short of a nightmare. We have just suffered and suffered and suffered,” he told the Daily Mail.

“One of the major points I want to make is that business proved itself. Even at this time of gloom and doom, we have shown that we can bounce back, given even a little tiny sliver of a chance.”

Bilimoria, a cross bencher and the first ethnic minority leader of the CBI, said he is prepared to give Boris Johnson the benefit of the doubt on Brexit.

“The torture of waiting on ‘deal or no deal’ is over,” he said. “Both sides deserve praise for reaching an historic UK-EU agreement.”

Bilimoria takes a generally optimistic view on the business outlook, saying that a trade deal, the start of vaccine roll-outs and rapid mass testing can be a “springboard to make 2021 a year of recovery”. 

Support Daily Business
Your one-off donation from as little as £20 helps support quality journalism

Contribute here



Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.