Letter to the Editor: Burnham missing the basic points on how to unlock growth

Response to Burnham promises a ‘culture shift’ in how Britain does business, Financial Times, 13 September 2026

Dear Editor,

Andy Burnham is right to argue that Britain needs a stronger culture of entrepreneurship and a closer partnership between government and business. However, if ministers genuinely want to unlock growth, they must first understand what businesses themselves say is holding them back.

The Chartered Institute of Management Accountants’ Building the Foundations of a Better Business Environment Report reveals a striking disconnect between policymakers and the UK's small and medium-sized enterprises. SME leaders identify weak consumer demand, policy uncertainty and the tax burden as their most pressing concerns. MPs, by contrast, tend to focus on energy costs, regulation, trade and skills.

The findings suggest that growth will not be delivered by rhetoric alone. While government announcements often emphasise ambition, 84% of SMEs say such announcements rarely translate into tangible support and seven in ten report that the government's growth plan lacks clarity. Most tellingly, only 2% of SMEs are currently targeting ambitious growth, with many focused instead on maintaining stability or simply surviving.

The Prime Minister's emphasis on local leadership, investment and collaboration is welcome. Yet businesses cannot invest, hire and innovate at scale unless they are generating the money to invest for the future. This requires confidence in the broader economic environment, a stable and predictable tax regime, policy consistency, and measures that support demand and long-term planning.

Britain undoubtedly possesses world-class talent, universities and innovative businesses. The challenge is not persuading businesses to be more ambitious. It is creating the basic conditions that give them the confidence to grow.

Growth will not come from good intentions alone. It requires concrete action on the issues businesses say matter most.

Yours sincerely,

Andrew Harding, FCMA, CGMA
Chief Executive, The Chartered Institute of Management Accountants