No quick fixes for UK economy, says Sir Roger Carr in Davos
Bringing the country back to financial health is 'a long-term project', CBI president tells CNBC at World Economic Forum
Spending on infrastructure projects that can begin immediately is a key part of the UK’s route to economic recovery, the CBI president, Sir Roger Carr, has said at the World Economic Forum – but he warned that a return to financial health is “a long-term project”.
Sir Roger also called for a policy of “sound finances” in an interview with CNBC in Davos – and told the broadcaster that a strong US economy was important for European countries.
“It’s very important we stay with something of the financial bedrock we have, of sound finances, that’s giving us still low interest rates and a competitive currency for exports,” he said.
“On top of that we have seen the CBI encouraging some development of infrastructure spending and some redirection of money to projects that could start immediately.”
Sir Roger - also chairman of utility firm Centrica - added: “There aren’t any short-term fixes here. We have to be realistic - this is a long-term project.”
The CBI chairman has also given interviews to the BBC’s Today programme and Channel 4 News in Davos.
Sir Roger will attend a British Business Leaders’ lunch at which George Osborne, the chancellor, will speak. You can read the chancellor's speech here.