The seven growth tests every Budget must pass

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(Photo by Dan Kitwood/Getty Images) The next Budget will inevitably contain difficult fiscal choices. But before any measure is announced, ministers should be required to answer a far simpler question...

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But before any measure is announced, ministers should be required to answer a far simpler question...</p>\n\n<a href=\"https://www.cityam.com/the-seven-growth-tests-every-budget-must-pass/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The seven growth tests every Budget must pass</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe seven growth tests every Budget must pass\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-07-08 12:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/the-seven-growth-tests-every-budget-must-pass/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Photo by Dan Kitwood/Getty Images) The next Budget will inevitably contain difficult fiscal choices. But before any measure is announced, ministers should be required to answer a far simpler question...</p>\n\n<a href=\"https://www.cityam.com/the-seven-growth-tests-every-budget-must-pass/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BCC","symbol_name":"Boise Cascade L.L.C.","start_time":0,"source_url":"https://www.cityam.com/the-seven-growth-tests-every-budget-must-pass/","article_id":"2649957801","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2026/07/Budget-box-e1783423742321.jpg?w=824&h=463&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/the-seven-growth-tests-every-budget-must-pass/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2649957801","pubTimestamp":1783484340,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"Growth happens when firms make decisions: to hire, invest, export, innovate, or train. Yet too few are judged on whether they actually alter any of those decisions.Get weekly sparky insight and expert commentary on markets, entrepreneurship and innovation from CityAM’s Opinion Editor, delivered every Saturday.In a new report, Delivering Growth: From Ambition to Action, Andy Haldane and I argue that every measure that could affect growth should be subjected to a simple Growth Delivery Test  before it’s announced.The test has seven parts. One, behavioural impact: Which firm behaviour is this intended to change?Three, transmission route: How will firms hear about, understand and use it?The purpose is simple – move policy discussion towards outcomes. Pass all seven and the policy is ready. Fail one and it needs redesign. Fail two or more and it is unlikely to positively change firm behaviour at all.Applied to the 2024 employer NICs rise, the diagnosis is stark. The measure was a revenue-ra","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BCC":"Boise Cascade L.L.C.","BK4104":"贸易公司与经销商","BK4567":"ESG概念","GDT":"WisdomTree Efficient TIPS Plus Gold Fund"},"translate_title":"每个预算都必须通过的七项增长测试","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BCC":1,"GDT":1},"content_text":"(Photo by Dan Kitwood/Getty Images) The next Budget will inevitably contain difficult fiscal choices. But before any measure is announced, ministers should be required to answer a far simpler question: What business behaviour is this designed to change, says David BharierWhen Rachel Reeves stood at the despatch box on 30 October 2024 to deliver her first Budget, an employer National Insurance rise designed to repair the public finances was always going to knock business confidence. But few could have predicted quite how long the aftershock would last. By early 2025, the British Chambers of Commerce (BCC) Quarterly Economic Survey – the UK’s largest independent survey of business sentiment – had recorded confidence at its lowest level since the aftermath of the 2022 mini-Budget, with taxation concern jumping from 48 per cent to 63 per cent in a single quarter. Nearly two years on, it has not recovered. The latest data shows the proportion of firms increasing investment – now just 17 per cent – has fallen to its lowest level since the pandemic.But this grinding down of sentiment is not simply about one tax measure. It is a wider issue about the way policy has been designed for the best part of two decades: announced with ambition, evaluated on political impact, and rarely tested against the single question that matters: what business behaviour is it trying to change?\n\nGrowth happens when firms make decisions: to hire, invest, export, innovate, or train. Yet too few are judged on whether they actually alter any of those decisions.\n\n\n\n\n\n\nFree Thinking - City AM Opinion Newsletter\nGet weekly sparky insight and expert commentary on markets, entrepreneurship and innovation from City AM’s Opinion Editor, delivered every Saturday.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nIn a new report, Delivering Growth: From Ambition to Action, Andy Haldane and I argue that every measure that could affect growth should be subjected to a simple Growth Delivery Test (GDT) before it’s announced. The test has seven parts. One, behavioural impact: Which firm behaviour is this intended to change? Two, target group: Which firms? Frontier, movable middle or long tail? Three, transmission route: How will firms hear about, understand and use it? Four, friction: Does it reduce or increase complexity, cost or uncertainty? Five, fiscal realism: Is it deliverable within constrained public finances? Six, evidence: What is the evidence that it will affect growth? Seven, measurement: How will we know if firms acted differently?The purpose is simple – move policy discussion towards outcomes. Pass all seven and the policy is ready. Fail one and it needs redesign. Fail two or more and it is unlikely to positively change firm behaviour at all. \n\nApplied to the 2024 employer NICs rise, the diagnosis is stark. The measure was a revenue-raiser, not a growth policy. It had no behavioural target for firms at all. But behaviour changed anyway. For a mid-sized firm with 50 people, their employer NICs bill would have gone up by around 50 per cent since the increase. Ironically, it does score well for transmission: a direct P&L line, delivered through payroll software.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.46.0","shortVersion":"4.46.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2649957801","isCrawlerRequest":true}