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The new CBI report highlights challenges and opportunities from the pandemic for public contracting
Dr Joshua Pritchard
Senior Policy Adviser
Understand what the discontinuation of the benchmark rate LIBOR means, and what you should expect from your lender in the coming months, in this new practical guide.
Ana Isabel Gallego
Senior Policy Adviser, FS, CBI
Why 97% of students want firms involved in boosting employability
Director, Bright Network
Angela McGowan, CBI Northern Ireland Director, said businesses will welcome further clarity on the evidence base for this package of measures.
“Right now our businesses are facing a myriad of unprecedented challenges: rebuilding from the first wave of COVID-19, dealing with the resurgence of the virus and managing the uncertainty over the EU/UK negotiations. While the announcement that there will be further financial support is welcome, it needs to be delivered without delay and targeted at acute areas of need."
Dame Carolyn Fairbairn, CBI Director-General, called for the UK to be the world’s champion for trade in services and innovation. She said:
“We need to hardwire collaboration between business and government across our work on trade and investment. The past few months have shown just how much business and government can achieve together. Now we need to bring that same collaborative energy to realising the UK’s full trading potential."
Matthew Percival, CBI Director for People and Skills, said redundancies are clearly on the rise despite the number of vacancies picking up over the summer. He added:
“The Government’s flexibility and support packages have reduced job losses substantially over the summer and making support match tiered local lockdowns will protect jobs too. Successfully ramping up the testing regime will be a key component to securing an economic recovery down the road.”
Dame Carolyn Fairbairn, said the Chancellor’s more generous job support for those under strict restrictions should cushion the blow for the most affected and keep more people in work. She added:
“In addition to financial support, continual transparency around decision-making is crucial. A consistent and open strategy for living with COVID-19 through the autumn and winter will help protect lives and livelihoods.”
Rain Newton-Smith, CBI Chief Economist, said that while necessary, the combination of restrictions re-introduced in September and rising infections was weighing on already fragile business and consumer confidence.
“Getting growth onto a firmer footing will rely on bringing infections under control. Imminent new restrictions must go hand-in-hand with further business support, especially for those harder hit regions and sectors such as aviation, wider transport and hospitality."