This month, we are focusing on growth and supporting Trade Associations with best-in-class resources to handle labour shortages and manage the increasing cost of doing business.
Focus on Growth over the political summer
There has been so much focus on the politics in Westminster, as the Conservative Party votes on the next Prime Minister – and it will be a few weeks before the UK’s new leader is confirmed.
Whoever emerges victorious will also be charged with steering the UK through a cost-of-living crisis, levelling up the country and driving us towards net zero. All while war rages in Europe.
The choice made by Conservative members in the weeks ahead will therefore impact on every community, household and business. Our finances, our future ambitions, our quality of life, will all be defined by this decision.
That’s why the idea of tax cuts has been such a hot topic. But here we urge caution: tax cuts may be popular, but they are not a comprehensive solution to the cost-of-living crisis. Because they don’t address the underlying causes of weak growth – and it’s growth we need to boost the UK’s economy.
Sustainable growth. Shared growth. Not growth that relies only on government or household consumption, which is doomed to fail. Nor measures designed to fuel spending during a period of high inflation, which will likely feed it and add to the public debt.
We need government – whoever it is led by – and business to work together pursuing clear opportunities for greater growth. The CBI reiterated this message in an open letter to the leadership candidates and will be working hard to ensure that there isn’t stasis over the summer, and our message is front of mind with officials and in day-one packs for whoever makes up the new Cabinet.
REC launch new report
A new study from the Recruitment and Employment Confederation says that Labour and skills shortages risk significant damage to the UK economy, reducing our productivity and ability to invest, grow and rais
Exclusive My CBI member-only content
