12 March 2015

  |  CBI Updates Team

Update

Warning against 'sound bite solutions'

Speaking at a trade and industry dinner hosted by the Lord Mayor of the City of London last week, Sir Mike Rake urged politicians of all stripes to tackle the challenges facing the UK’s economy and stressed the importance of extending the recovery’s benefits to everyone. 

Warning against 'sound bite solutions'

Click here to read the press release of Sir Mike’s speech

With just a short time to go until the general election, Sir Mike highlighted three key political challenges confronting British business.

Drawing attention to business concerns over talk of misguided market intervention, he stressed that such short-term ‘politicking’ would do little to encourage long-term innovation or create jobs.




He called membership of a reformed European Union ‘crucial’ to the business bottom-line, noting that immigration continues to be part of the solution on skills shortages.

Echoing John Cridland’s recent contribution to the debate, he called devolution an opportunity to drive growth across the UK, whilst urging politicians to carefully consider the impact of any new powers and not undermine the UK single market.

Sir Mike also highlighted the fact that – after six years of falling wages – growth must be something which people see in their everyday lives. 

Challenging firms to show people they are part of the solution, he said that happy employees and wealthy customers are in the business interest. By treating customers fairly, he claimed business could increase public trust and improve its credibility. He also underlined the key role played by skills and education in raising living standards in the long-term. 

The CBI will shortly be publishing its policy priorities for the first hundred days after the election.

Concluding his remarks, Sir Mike noted that the business community would be on the lookout for signs of early progress from the next government following the election in May.

For more information please contact richard.maughan@cbi.org.uk