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The CBI, in partnership with Finastra, held a roundtable to hear from senior businesses on how their firms had deployed technology and transformed in response to the COVID-19 outbreak.
With the UK-EU trade negotiations due to enter the seventh-round on 17 August, the CBI has released data revealing firms’ concerns over a non-negotiated EU exit and lack of preparedness.
Foresight’s Rodney Appiah and Schneider Electric’s Alice Williams on CBI London U35 Committee’s campaign to Build Back Better.
Rodney Appiah and Alice Williams
Chair, CBI London Under 35 Committee, Director, Foresight Group & Vice Chair, CBI London Under 35 Committee, Vice President Strategy & Commercial, Schneider Electric
The CBI has set out six ways to build confidence for those businesses, local authorities and communities affected, if their local area comes under new temporary restrictions. Chief UK Policy Director, Matthew Fell said:
"Businesses know that if infection rates spike in an area then new local lockdowns may well be required to protect public health. That’s why they’re working so hard to follow the government guidance, keeping their workplaces, offices, pubs and shops, safe and COVID-secure for staff and customers."
Rain Newton-Smith, CBI Chief Economic responded, saying:
"With interest rates already so close to zero, it’s unsurprising that the Monetary Policy Committee kept its powder dry this time around. Despite early signs of a recovery gathering pace, downside risks to the outlook are still looming large, so a “wait and see” approach seems like the right one at present."
On results day, CBI Scotland Director, Tracy Black, said:
"Congratulations to all Scottish students getting their results today. While it has undoubtedly been an unusual year for young people, and the education system as a whole, that should not detract from pupils’ years of hard work and dedication."
Matthew Fell, CBI Chief UK Policy Director, noted the news will come as a real disappointment for some businesses, but highlighted firms know that public safety comes first. He added:
“Delayed reopening will unfortunately lead to even more financial pressure for some companies. So there may yet be a need for more direct support to shore up cash flow, including extended business rates relief.”
Dame Carolyn Fairbrain, CBI Director-General, said that while many larger firms have long had plans in place for a no-deal outcome, smaller firms will struggle to cope with a double dose of disruption. She added:
“A deal that supports the UK’s world leading services firms and keeps UK exporters free from red tape, costs and new trade barriers is paramount as the UK takes its all-important steps towards recovery.”