Blogs
The Chancellor is set to deliver the much talked about Autumn Budget on Wednesday 26 November. In the lead-up, the steady stream of leaks, reversals and speculation has dominated headlines — but it’s the resulting uncertainty facing UK businesses that is causing real harm. Analysts link the weaker-than-expected GDP figures (growth eased to 0.1% in Q3, down from 0.3% the previous quarter) directly to this unstable environment.
The Chancellor has stated a clear ambition to lift UK productivity and drive long-term economic growth. Yet sentiment across the business community is increasingly at odds with this goal.
At Pulse Finance, we believe the private sector now urgently needs credible, actionable measures that reduce uncertainty, lower the cost of capital for growth projects, and reposition the UK as the most attractive major European economy in which to start, scale and decarbonise a business.
Below is our practical wish list — interventions that would support growth, strengthen public finances, and encourage private investment.
Link business rates to inflation and undertake less frequent revaluations; increase small-site relief thresholds; and pilot turnover-linked relief for high-productivity exporters and R&D-intensive businesses. Business rates remain a fixed cost that disproportionately impacts growing firms and hinders town-centre regeneration. Targeted reform would support scaling activity and protect jobs.
Pledge no retrospective tax changes, introduce a two-year stability window for investment-related measures, and publish an independent framework for future changes linked to clear fiscal triggers. Market confidence depends on predictability. Recent policy volatility has lifted gilt yields and borrowing costs. Stability would benefit both government and business balance sheets.
Implement tangible planning reforms — including shorter decision timelines for strategic projects and greater use of zoning for industrial and tech clusters. Publish a pipeline of investable infrastructure projects co-funded by the National Wealth Fund and institutional investors. Timely approvals and visible project pipelines are essential to attracting pension funds and global capital.
Create a business-led skills credit or tax incentive for accredited training investments, and expand apprenticeship support in R&D, technology and advanced manufacturing. Productivity growth depends on a highly skilled workforce. Incentivising employer-led training improves retention, reduces recruitment challenges and converts capital investment into real output gains.
Introduce permanent full expensing (100% first-year allowance) for qualifying plant, machinery, and digital or automation investments, ideally over a minimum five-year horizon. A clear, simplified framework — including a straightforward eligibility list and fast-track approval mechanism — would lower the cost of capital, improve project viability and drive productivity, particularly in manufacturing, logistics and technology-intensive sectors.
Commit to a multi-year roadmap for R&D tax credits — covering rates, eligibility rules and administrative processes — and expand qualifying costs to include IP and AI development. Fast-track advance assurance for SMEs would give early clarity. Frequent rule changes undermine investor confidence and delay commercialisation. Predictability will encourage domestic and international R&D investment.
Strengthen loan guarantee schemes for late-stage venture and growth lending, complemented by a government-backed co-investment fund to attract institutional capital into scale-ups. Many high-potential SMEs still struggle to secure later-stage financing. Targeted guarantees reduce lender risk and draw in private funds without the state taking long-term equity stakes.
A Budget grounded in these measures would materially reduce the cost of doing business in the UK, restore investor confidence and support long-term productivity growth. If the Government’s ambition is to rebuild economic momentum, the Autumn Budget must provide the clarity and stability businesses need to invest and expand.
Read more
How UK SMEs can protect their cashflow
If you are looking for a funder to deliver scalable finance solutions for your business, get in touch with our team today.
