The CBI has responded to the Chancellor of the Exchequer’s
speech at the 2017 Conservative Party Conference.
Carolyn Fairbairn, CBI Director-General,
said:
“The Chancellor has given a passionate defence of free
markets and the importance of business and government working to
tackle inequality. That is necessary, but not sufficient.
“The UK is facing a generation defining-challenge. A potent
cocktail of Brexit uncertainty and dogma-driven politics on both
left and right threatens jobs, investment and living standards.
Now is not the time for half measures.
“The speech shows a government strong on diagnosis, but
weak on action. Businesses looking for clear vision and urgent
delivery have been left with slim pickings. Renewing the UK’s
creaking infrastructure will unlock regional growth and living
standards, as will improving access to housing. But they are only
parts of the puzzle.
“It is time for honesty about the challenges we face. Our
economy is under threat – it has moved from the top of the G7 to
the bottom. Faltering consumer and business confidence risks
lowering living standards. Rising inflation is putting pressure
on households.
“The solution must be for responsible business and
government to grow our way out of austerity. But this can only
happen with clarity, unity and action. Today’s speech was only
one step in that direction.”
