CBI tells Jeremy Hunt to focus on green investment instead of tax cuts in budget

Rain Newton-Smith, director-general of the CBI, said the government should increase spending on green targets to £50bn a year by 2030. Photograph: Aaron Chown/PA

A leading business lobby group has urged Jeremy Hunt to resist calls for large-scale tax cuts in his budget next month, saying the government needs to avoid “short-termism” and devote spending to projects that boost the economy.

Adding its voice to a growing clamour for green investment, the Confederation of British Industry said pre-election giveaways at the budget should be kept to a minimum to allow for a surge in spending to achieve net zero.