The Business View

On the Business, Energy and Industrial Strategy Select Committee’s report on energy efficiency

Rain Newton-Smith, CBI Chief Economist welcomed the Government's commitment to achieve net-zero emissions by 2050. She added:

“A cross-departmental approach, working jointly with business, will improve the efficiency of our homes and buildings and develop the skills and funding needed to make them fit for the future.”

12 Jul 2019

On the government's R&D announcements

The CBI welcomed the government's backing of new partnerships between Britain’s top researchers and industry leaders as part of its modern Industrial Strategy. CBI Innovation Director Felicity Burch said:

“These announcements are a positive step on the journey to spending 2.4% of UK GDP on R&D and demonstrate how government support can help businesses to do more. But meeting this spending target will require significant increases in investment to £70bn a year – roughly double what it is today."

10 Jul 2019

The Indian Budget

Shehla Hasan, CBI India Director welcomed pro-business measures in the latest Indian Budget, which she said offered a clear roadmap for the country to become a $5trn economy in the near future. She added:

“Infrastructure, digital economy, water security, tackling pollution, electric vehicles, space sciences and health are some of the forward-looking themes in this budget which will unlock a myriad of business opportunities for UK businesses."

05 Jul 2019

On internet regulation

In response to the government's Online Harms white paper, the CBI has issued recommendations to improve the proposals and called for a new independent regulator. CBI Director-General Carolyn Fairbairn said:

“Firms want to see the UK leading the way in internet safety. Do it well and the UK can lead the world in internet regulation. But done badly, poor regulation will undermine new entrants into the digital economy and dampen UK investment, while having minimal impact on improving public trust."

04 Jul 2019

Government's Green Finance Strategy

The CBI has responded to the new strategy with a positioning paper offering further recommendations to government. CBI Chief Economist Rain Newton-Smith added:

“Green Finance is an excellent tool to help decarbonise the economy and could be another string to our bow as one of the world’s great financial powerhouses. The government's strategy is a golden opportunity for the UK to build on its existing strengths."

02 Jul 2019

The government's aviation strategy

Responding to the Aviation 2050 Green Paper Consultation, the CBI highlighted that the aviation sector can both help grow the economy – through increased connectivity with new markets – and tackle climate change by reducing carbon emissions. Tom Thackray, CBI Infrastructure and Energy, said:

“Aviation has long been a major success story for the UK. If we want to keep it that way, we must keep pace with our global competitors. Supporting innovation and cutting-edge technology that allows aviation to grow sustainably must be a top priority for the government.”

26 Jun 2019

Prompt payment measures

Small Business Minister Kelly Tolhurst has unveiled a package of measures, including potential fines for large businesses that fail to pay smaller suppliers on time. CBI Deputy Director-General Josh Hardie said:

"For large firms, it is in their interest to treat supply chains fairly and transparently. Those with persistently poor practices should know there is nowhere to hide. We look forward to working with the government and Small Business Commissioner to ensure any new powers are used constructively."

19 Jun 2019

On the new London-Shanghai Stock Connect

The CBI welcomed the creation of the London-Shanghai Stock Connect, which will see UK-listed firms become the first foreign companies to be able to list in mainland China. CBI Head of China Guy Dru Drury said:

“The Sino-British relationship is a tremendous success story, and our firms are keen to play their part in further deepening our economic ties. As the UK charts a new course with its global trading partners, the Stock Connect is a timely sign that we are open for business."

18 Jun 2019

On Lord Bilimoria's confirmation as new CBI Vice-President

Karan, Lord Bilimoria of Chelsea's appointment as CBI Vice President comes after 90% of CBI AGM participants backed his nomination. John Allan CBE returns as President for a second one-year term. On Lord Bilimoria's election, John Allan said:

“We are lucky to have such a well-respected entrepreneur whose experiences reflect both the highs and lows of starting and growing a business.”

18 Jun 2019

The London Electric Vehicle Infrastructure Delivery Plan

CBI London Director Eddie Curzon welcomed the Mayor's announcement, the capital's commitment to zero emission transport and the importance of collaboration between business, government and the London boroughs. He added:

"This is a milestone moment for London and the UK, and shows that business stands ready to play its part to reduce emissions and improve air quality in our cities."

17 Jun 2019

On the Prime Minister's Net Zero announcement

CBI Director-General Dame Carolyn Fairbairn welcomed the government's commitment to achieve net-zero emissions by 2050 as, "the right response to the global climate crisis, and firms are ready to play their part in combating it." She added:

"This legislation must be followed by a commitment to long-term policies that support decarbonisation across the economy."

12 Jun 2019

On news that Ford's Bridgend plant will close

CBI Wales has reacted to Ford's plans to close their Bridgend plant by 2020

“The planned closure is a blow to the lives of all who work there and in its supply chains, as well as to the Welsh economy. The workers must now be given every help in re-training, upskilling and finding new opportunities."

06 Jun 2019

On the decision not to proceed with the M4 corridor

CBI Wales has commented on the First Minister's decision not to proceed with the M4 corridor around Newport. Ian Price, CBI Wales Director, said:

"After decades of deliberation and over £40m spent, no problem has been solved today. Congestion and road pollution around Newport can only increase. Economic growth will be stifled, confidence in the region will weaken and the cost of an eventual relief road will rise."

04 Jun 2019

On the interim report from the Augar Review

CBI Deputy Director-General Josh Hardie welcomed "the honest and thoughtful look at England’s post-18 education system", including the call to bring back maintenance grants and the recognition of the importance of being able to learn-while-you-earn. But he added:

“Any change to tuition fees and the funding universities receive must not lead to a cut in higher education funding. Undermining the financial sustainability of universities would be a national tragedy given the crucial contribution they make to skills and innovation."

30 May 2019

Lord Bilimoria's nomination as the next CBI Vice-President

Lord Karan Bilimoria, founder and Chairman of Cobra Beer, will stand for election as the new CBI Vice-President at its AGM on 18 June 2019. CBI Director-General Carolyn Fairbairn said:

"Lord Bilamoria has had a remarkable career in British business, during which he has built a deep understanding what it takes to build a successful company. At such a critical time for the country, Lord Bilimoria’s wealth of experience will prove invaluable to the CBI and the UK business community.”

26 May 2019

Indian General Election results

The CBI has reacted to the re-election of Narendra Modi as President of the Republic of India. Shehla Hasan, CBI India Director, said:

“The bold economic reforms already taken by Prime Minister Modi have enticed ever greater numbers of British firms to India. To fully capitalise on these opportunities, businesses would like to see further progress in corporate tax rates, data privacy and ease of doing business indicators."

23 May 2019

On the collapse of cross-party Brexit talks

The CBI has called for the May parliamentary recess to be cancelled and used to agree a deal as soon as possible. CBI Director-General Carolyn Fairbairn said:

“Another day of failed politics, another dispiriting day for British business. Six wasted weeks while uncertainty paralyses our economy. Business and the country need an urgent resolution to this mess. This is no time for holidays. It’s time to get on with it.”

17 May 2019

The West Midlands industrial strategy

Responding to the local strategy launched by Minister for Business and Industry Andrew Stephenson and Mayor of the West Midlands Andy Street, Richard Butler, CBI West Midlands Director, said:

“As the first local industrial strategy to be launched, we hope the West Midlands Industrial Strategy will start a domino effect of robust strategies being rolled out across the country. It shows the real value of political leaders working with one another to unlock economic growth."

16 May 2019