UK BUDGET: The CBI today called on the Chancellor to boost growth and investment.

In its submission to the 2012 Budget, the CBI also urged changes to the UK tax system which it believes could persuade businesses to invest in the UK and further stimulate growth.

The business group is urging the Government to deliver on its proposals to attract more investment into UK infrastructure, boost investment for mid-sized businesses, and get more credit flowing to companies across the economy.

The CBI's latest proposals include a new capital allowance, new forms of finance to help companies grow and ways to make environmental taxes boost growth.

CBI Director General John Cridland said: "The Chancellor must use this Budget to score the growth and investment policy goals he put forward in his Autumn Statement.

"Delivering private sector investment in infrastructure, supporting mid-sized businesses, hammering out the details on credit easing, extending the Youth Contract to 16 and 17-year-olds, and introducing the New Build Indemnity Scheme for mortgages at the earliest opportunity will all provide a real boost for UK growth and jobs.

"With our economy firmly under the international spotlight, there is no time to lose. "Plan A plus must become a reality.

"We also want to maximise the incentive for businesses to invest in Britain.

"So we're calling on the Government to make some targeted changes to the UK tax system.

"The Chancellor still has an opportunity in this Budget to make sure the UK tax system is as internationally competitive as it can be."