Responding to the Queen’s Speech, , Director General of
the Institute of Directors, said:
“We were expecting a stripped-back Queen’s Speech and that’s what
we got, but business leaders will actually be pleased to see the
tighter focus on the most immediate challenges. There was also a
welcome change of tone, clearly acknowledging the value of
enterprise to the country and the importance of including
businesses in discussions about what our future looks like. It
is, of course, unlikely that the process of getting Brexit
legislation through Parliament will be as smooth as it was
presented today, but in the circumstances we were not expecting
to get much more detail than we have received.
“The scale of the task ahead is significant and business
confidence, in light of our present political limbo, is low. As
such, commitments to pursue the Industrial Strategy and to tackle
the skills shortage will be useful signals to industry that the
Government – despite Brexit – intends to address our domestic
challenges. Those building businesses across the country will
expect cross-party support to boost our global
competitiveness.
“More clarity on future tax measures and on our future trading
arrangements would have been useful for businesses to plan for
the future, and it is disappointing that corporate governance
reform was not explicitly mentioned.
“All in all, business leaders will have been relatively heartened
by the promise of a Parliament devoid of distractions and
focussed on delivering the most pragmatic, open and global Brexit
possible, as well as much-needed domestic upgrades. It will be
crucial, however, that the Government builds on today with
additional detail over the weeks and months to follow, or the
resilience of the business community may start to wane.”
On specific measures:
On the Smart Meter Bill, Dan Lewis, Senior
Adviser on Infrastructure Policy, said:
“The proposed Smart Meters bill is a clear admission that the
programme is way behind schedule and the background
infrastructure is in trouble. The cost of this programme to
consumers seems to be moving in one direction – up – and we urge
the Government to consider what impact this extension may have.
The UK will now move from a mass rollout target of December 2020,
to a 5 year extension taking us to 2025. There has never been a
better time to halt the rollout and review all the options.”
The IoD called for a halt and review of the programme before the
election in our pre-election briefing note, Future-Proofing
Energy.
On the plans to boost our space
infrastructure, Lewis continued:
“Space is the one industrial sector where the sky is emphatically
not the limit. This is the fastest frowning sector of the UK
economy and it is welcome that the Government is seizing the
opportunity to join the global race.“
The IoD’s 2012 report, The UK Space
Economy, laid out a vision of a Britain leading the
way in the economic space race.
