Professor Joe Nellis calls for long-term reform ahead of Wednesday’s announcement

As the Budget approaches, UK businesses are calling for a decisive shift in economic strategy to revive stalled growth and restore confidence. Professor Joe Nellis, economic adviser at MHA, said companies across Milton Keynes and the wider region need clarity, stability and long-term policy rather than short-term political gestures.

Nellis said business leaders have endured weak growth, rising costs and falling investment for too long. He believes Wednesday’s Budget must reverse this trend by giving firms the confidence to invest, recruit and plan ahead during a period of global uncertainty.

“Businesses are tired of headline-grabbing gimmicks that vanish within months,” Nellis said. “They add complexity, hinder planning and do nothing to strengthen the economy.”

Avoid political theatre and uncertainty

Nellis warned the Government against using the Budget for political “showmanship”. With a substantial parliamentary majority and no election until 2029, he argues ministers have the political space to push through difficult reforms that benefit the economy long-term.

He added that constant changes to tax thresholds, reliefs and incentives undermine confidence and deter investment. He also warned that delaying reform on planning, infrastructure, regulation and skills will continue to damage the UK’s competitiveness.

What the Chancellor must prioritise

Nellis set out six actions he believes are essential if the UK is to regain momentum in 2026 and beyond:

  • A stable investment framework: Multi-year clarity on capital allowances, R&D support and industrial strategy to free up stalled projects.
  • A national skills plan: Reform of the apprenticeship levy, backing for upskilling and closer collaboration between business and education providers.
  • Faster planning and infrastructure decisions: Especially for energy, industrial zones, research hubs, housing and transport.
  • Certainty on clean energy policy: Clear signals on renewables, nuclear, carbon capture, grid upgrades and green finance.
  • Improved UK competitiveness: A stronger corporate tax environment and regulation that attracts global capital.
  • Raising the right taxes: Nellis said a “sinners’ tax” on gambling, alcohol, tobacco and unhealthy food could raise £3.2bn without undermining business growth.

A pivotal moment for the UK

Nellis said businesses are not expecting “miracles” but do want ambition and direction. With inflation easing and the prospect of lower interest rates, he believes a credible strategy could unlock growth, boost productivity and rebuild confidence.

“This Budget is the opportunity for the UK to lead again — boldly, confidently and with a long-term vision businesses can trust,” he said.