CMI response to the Budget 2021

Ann Francke, Chief Executive of the Chartered Management Institute (CMI) said:

Businesses will welcome the clarity provided in today’s Budget on the financial support that will be made available to see out the Prime Minister’s roadmap. Being able to plan is integral to success and extending the furlough scheme allows businesses to do so more effectively, helping to also ensure their survival.

We’re delighted to see the Government investing in management and leadership training, which we know increases firm-level productivity. SME leaders will play a vital role in the UK’s economic recovery, both as growth drivers and job creators and the Government is right to invest in developing their capabilities and growing their confidence.

The Help to Grow scheme, alongside apprenticeship incentives and the expansion of Traineeships provide much needed opportunities to upskill workers with the core skills - including management, innovation and digital adoption - that the economy requires. Great management and leadership is key to the success of these schemes and to delivering a return on the Government’s investment.

We particularly welcome that the Government is covering 90% of the cost - this will help ensure the pandemic doesn't hold back future prosperity. Good managers and leaders are also essential to the successful delivery of the Government’s Levelling Up agenda, so the more the Chancellor can do to bed-in these skills across all socio-demographics of the UK workforce, the better for the nation’s prosperity.