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CBI responds to UK Government's Financial Services Bill

Chris Wilford, CBI Director of Financial Services, said:

“This new Financial Services Bill provides an important platform for growth. The UK’s independent financial regulators are well regarded across the globe. These proposals set out an agile approach and the CBI wants to see empowered regulators that drive smarter regulation with effective parliamentary scrutiny."

21 Jul 2022

CBI responds to latest monthly inflation figures

Anna Leach, CBI Deputy Chief Economist, said:

“Inflation hit another multi-decade high in June. The labour market is still tight, global price pressures strong and another rise in Ofgem’s energy price cap is in the offing. As a result, inflation is likely to stay high for the rest of this year, severely eating into strained household incomes."

20 Jul 2022

CBI responds to the Government’s Jet Zero Strategy

John Foster, CBI Policy Unit Director, said:

“Jet Zero’s success lies in Government working closely with business. By creating the conditions for companies to invest, our country can create a world-leading sector that shifts the dial on global aviation emissions.”

19 Jul 2022

CBI responds to latest labour market statistics

Matthew Percival, CBI Director for People and Skills policy, said:

“Persistent labour and skills shortages are hitting growth and business investment, exacerbating the cost-of-living crisis. Boosting business confidence to accelerate growth should be front of mind for the current and next Government."

16 Jul 2020

Our reaction to new Government neonatal paid leave support

Eugenia Migliori, CBI Principal Policy Adviser for Inclusion, said:

“Having a baby in neonatal care is an incredibly emotional and stressful experience for parents. Businesses want to support their employees as much as they can, which is why they will welcome this new entitlement. Many businesses already offer enhanced family related leave and pay packages to support families at what is an extremely difficult time.”

15 Jul 2022

CBI comments on latest GDP for May

Ben Jones, CBI Lead Economist, said:

“Economic growth in May was stronger than expected. However, GDP data is volatile at the moment. This is in part due to the impact of the Jubilee bank holidays, and this noise will continue to obscure the true state of the economy over the next few months. In reality, CBI surveys and real-time data point to subdued economic momentum."

13 Jul 2022

CBI Comments on Prime Ministers resignation

Tony Danker, CBI Director-General, said:

“The Prime Minister backed UK business throughout COVID and has been steadfast in his support for Ukraine. He will leave office with our best wishes. But we now need the political vacuum to be filled at speed to protect people’s living standards, through action on business confidence, investment and growth."

07 Jul 2022

Our reaction to UK Government's Energy Security Bill

Tom Thackray, CBI Decarbonisation Director, said:

“The Energy Security Bill will help address vulnerabilities laid bare by the global gas and oil crises. The Bill’s much needed measures will accelerate the UK’s shift to net zero power, while also helping to grow key green technologies like carbon, capture, usage/storage (CCUS) and hydrogen."

06 Jul 2022

CBI responds to latest inflation figures

Anna Leach, CBI Deputy Chief Economist, said:

“The void left by falling household spending must be filled by government action to shore up both near and long-term economic growth. Committing to a permanent successor to the superdeduction, as well as supporting green infrastructure and technologies that help cut energy bills in homes and businesses, will both boost economic confidence and reduce exposure to volatile global energy prices.”

22 Jun 2022

CBI responds to the UK Government's new Data Reform Bill

Naomi Weir, CBI Director of Innovation, said:

“CBI will work with government and the ICO to help implement proportionate, world-class regulation that maintains the proactive business culture that has developed on data protection whilst seizing the opportunity to innovate with data. Rules on data don’t exist in isolation and will form an important part of DCMS’ work to streamline digital regulation."

17 Jun 2022

CBI responds to MPC decision raising interest rates

Alpesh Paleja, CBI Lead Economist, said:

“We expect only meagre economic growth ahead, as a historic squeeze on household incomes bites hard on spending. Monetary policy can only do so much, and must now be coupled with government action to prevent a deeper and more prolonged downturn. Creating a permanent investment incentive and tackling skills shortages by introducing immediate flexibility to the apprenticeship levy would be strong first steps for boosting confidence.”

16 Jun 2022

CBI responds to latest labour market statistics

Matthew Percival, CBI Director for People and Skills, said:

“With pay continuing to fall behind inflation, it’s no wonder that households are forecast to further reduce their spending this year. Urgency is needed to build confidence and ease the risks of a full-blown recession. Not being able to hire the people they need is a major drag on business confidence, so the Government should immediately allow firms to use their Apprenticeship Levy to tackle shortages and update the Shortage Occupation List.”

14 Jun 2022

CBI responds to the UK government's Digital Strategy

Naomi Weir, CBI Director of Innovation, said:

“We can’t waste a moment in bringing this strategy to life, with action required on skills, regulation, cutting-edge tech adoption, and championing the role of digital trade. Business and the CBI stand ready to work with Government to make it happen.”

13 Jun 2022

Don't wait until autumn to turn the page on low growth, says CBI President

Lord Bilimoria, CBI President, has said:

“We must now not step back or divert our course, but double down on our growth ambitions. We here have a shared vision of what this country can become: a truly high-growth, enterprising and competitive economy that works for all our firms and people. And businesses stand ready and willing to work with the Chancellor to make that vision a reality.”

18 May 2022

CBI responds to latest inflation data

Rain Newton-Smith, CBI Chief Economist, said:

“It is critical the government explores options to help people facing real hardship now, and support cashflow for vulnerable firms. Stimulating business investment is also crucial, to both plug the near-term gap in growth and to shore up the economy’s potential to withstand future shocks."

18 May 2022

CBI responds to latest labour market statistics

Matthew Percival, CBI Director for People and Skills, said:

“Urgent action is needed to help alleviate the pressure facing businesses and communities across the UK. Putting pounds into the pockets of people facing hardship and stimulating business investment are two actions the government can take now that will help us to emerge from this crisis."

17 May 2022

CBI Chief calls for cost-of-living help for people on lower incomes

CBI Director-General, Tony Danker, said:

“At the CBI we think it’s vital that the Government moves on two fronts right away. The first is to help people facing real hardship now; it’s the moral underpinning of our economy and society. Recent surveys suggest more than one in 10 households have skipped – or had smaller meals – in the past month because of a lack of affordability, while around half a million more households are expected to face choices between heating and eating*. Putting pounds in the pockets of people struggling the most should not be delayed. Secondly; start stimulating business investment now – we will need to ensure that there is economic growth in the pipeline to avoid any downturn in our economy that could worsen or prolong the cost-of-living crisis."

16 May 2022

CBI responds to latest GDP figures

Rain Newton-Smith, CBI Chief Economist, said:

“It’s clear that the most vulnerable households and energy-intensive businesses may need further support, so the government should keep this under review. But the only way to build a resilient economy, one that can withstand price shocks, is a relentless focus on growing productivity and potential output. Business is the solution to both, so should be adequately supported to invest and grow.”

09 Aug 2019

CBI responds to the Queen's Speech

Matthew Fell, CBI Chief UK Policy Director, said:

“The focus on infrastructure, energy security, and skills all lay the foundations for sustainable, longer-term growth. And reaching for smarter, better regulation will ensure the UK remains world-leading in finance and put us at the front of the pack to make the most of emerging technologies. But alongside ambition, what’s needed now is a relentless focus on delivery. Ahead of the Autumn Budget, the Government should remain laser focused on unlocking the investment needed to grow the economy and address the cost-of-living crisis.”

10 May 2022

CBI NI responds to Assembly election result

Angela McGowan, CBI Northern Ireland Director, said:

“Taking steps now to safeguard the economy can deliver pro-growth policies to secure our long-term prospects. We've got a real chance to push our economy forward if a newly formed Executive works together with business in a spirit of collaboration. What’s clear is that we cannot wait until later this year to deploy growth boosting measures”.

07 May 2022

CBI responds to Bank of England interest rates decision

Alpesh Paleja, CBI Lead Economist, said:

“While monetary policy is the appropriate first line of defence in tackling inflation, government needs to take further action to shore up the broader resilience of the UK economy. In the near-term, higher inflation will hit poorer households hardest, so support measures for this group will need to be kept under review. Over the longer-term, securing greener energy supply and a relentless focus on raising potential growth will bolster our ability to withstand shocks and further price pressures”

05 May 2022

CBI responds to new UK Government support for energy intensive industries

Tom Thackray, CBI Programme Director for Decarbonisation, said:

“This move will provide some relief to energy intensive firms which play a key role in the UK’s critical supply chains. The Government must now build on this package by actioning further support measures announced in the recent British Energy Security Strategy and providing wider cashflow support through the Recovery Loan Scheme.”

29 Apr 2022

CBI responds to UK-India new £1bn commercial investment deals

CBI President Lord Karan Bilimoria, said:

"Firms will welcome the £1bn new investment announcements in India, this is just scratching the surface of what can be achieved between the two countries across health and cutting-edge technology. More broadly, working together on an ambitious UK-India free trade agreement that slashes tariffs, improves the ability to move talent across borders as well as data, will be the crucial foundation for a deal that delivers for businesses."

21 Apr 2022

CBI responds to latest inflation figures

Alpesh Paleja, CBI Lead Economist, said:

“The energy-centric nature of inflationary pressures highlights the need to double-down on investment in green energy. Making homes and commercial buildings more energy efficient would help reduce demand and consumer bills. In the near-term, reducing policy costs for energy intensive industries and continuing support for low-income households will be essential in helping those worst hit.”

13 Apr 2022

Dip in confidence puts resilience on the agenda for FS firms - CBI/PwC Financial Services Survey

Rain Newton-Smith, CBI Chief Economist, said:

“With operational resilience becoming an ever more important priority for the sector, there is danger that a ‘wait and see’ approach may dampen growth prospects for the wider economy. A lack of preparedness for mainstream use of digital currencies and challenges in developing Net Zero plans suggest a need for swifter policy development in both areas to guide and stimulate industry-wide action.”

13 Apr 2022

CBI responds to latest GDP figures

Alpesh Paleja, CBI Lead Economist, said:

“It’s clear that growth impetus remains underwhelming. While the Government took some steps to sustain confidence in our economy in the Spring Statement, they don’t do enough to tackle the current challenges facing firms. The only enduring response to these is a relentless campaign for economic growth and productivity, through measures such as capital allowances, R&D reforms and a revised apprenticeship levy.”

11 Apr 2022

CBI responds to Government's Energy Security Strategy

Rain Newton-Smith, CBI Chief Economist, said:

"While it’s welcome this Strategy addresses some long-standing challenges, companies are continuing to really struggle with increased wholesale energy costs right now. The Government’s next step should be to provide immediate cashflow support for firms through the Recovery Loan Scheme – and move to cut bills for Energy Intensive Industries to maintain competitiveness."

06 Apr 2022

CBI responds to Spring Statement

Tony Danker, CBI Director-General, said:

"The Chancellor has taken steps to sustain confidence in our economy. They are welcome but don’t do enough to tackle the current challenges facing firms. We need concrete plans now on how we get new nuclear, hydrogen and onshore wind investment. We need more EV charging infrastructure deployed this year. We need post Brexit regulation changes that unleash the potential of our health, science and technology sectors."

23 Mar 2022

CBI comments on P&O situation

Tony Danker, CBI Director-General, said:

“The more we find out about how P&O Ferries have handled this situation, the more it appears that proper process has not been followed. What is not in doubt is that the workers who have been fired have been treated abysmally. Our thoughts are with those people who have lost their jobs so suddenly. You can’t legislate for those companies who choose to wilfully ignore or break the rules. The Government will rightly be considering enforcing the law and workers may choose to challenge the fairness of their dismissals at employment tribunal.”

22 Mar 2022

CBI responds to the updated Online Safety Bill

Matthew Fell, CBI Chief Policy Director, said:

“This landmark legislation is important and necessary to keep people safe online – business wholeheartedly back this ambition. The goal should be to make the UK an international leader, not an outlier, in shaping the future of the internet. This is an incredibly complex set of regulations and businesses will be combing through the detail over the coming days. Ensuring the Bill is feasible for companies to implement is essential – they will work with policymakers to make that happen as the Bill moves through Parliament.”

17 Mar 2022

CBI responds to latest UK interest rate decision

Alpesh Paleja, CBI Lead Economist, said:

“With ongoing conflict in Ukraine pushing global commodity prices higher and exacerbating supply chain disruption, the MPC are clearly making moves to counter growing inflation. But they will be walking a tightrope in the months ahead, having to both keep price pressures in-check and manage the impact of tighter monetary policy on economic growth – particularly against a background of rising living costs."

17 Mar 2022

CBI responds to latest Parker Review data

Lord Karan Bilimoria, CBI President and Chair of Change the Race Ratio, said:

“The Parker Review has created a groundswell of action which has led to real results in the boardroom. Government needs to match business progress by bringing in mandatory ethnicity pay gap reporting in the same way they have done for gender. Our Change the Race Ratio campaign exists to help businesses to improve, not only to measure their progress. I encourage all companies to sign up.”

16 Mar 2022

CBI responds to refugee announcement

Lord Bilimoria, CBI President, CBE, DL, said:

“Businesses are keen to assist refugees arriving in the UK by working alongside ministers and civil society to help support and employ people fleeing the conflict in Ukraine. Firms will be looking closely at details of the new scheme to see how they can best support, including advertising it to their staff."

14 Mar 2022

True economic independence from Russia requires bolder moves

Tony Danker, CBI Director-General, said:

“Since the start of this crisis, the CBI has been guiding thousands of firms across the country to support economic sanctions on Russia and to get behind humanitarian efforts for people in Ukraine and for refugees. Convening its councils and roundtables across the UK, CBI members are supportive of sanctions, despite the real costs involved in doing so. The next phase must be finding our economic resilience, better ensuring our fate remains in our hands on this conflict and for the future.”

10 Mar 2022

Chancellor’s Spring Statement must be the time to act or economy will drift back to low growth

Tony Danker, CBI Director General, said:

“That is the time to act if we want to push the economy onto a higher growth trajectory. It takes time for policies to kick in and deliver results, so there’s no point in waiting until an autumn Budget. Without serious action, we risk the economy simply drifting towards low growth once the V-shape bounce ends. The Government cannot waste a single moment."

01 Mar 2022

CBI responds to PM statement on living with the virus

Matthew Fell, CBI Chief Policy Director, said

“After almost two years, the Living with Covid strategy marks a significant step towards normality returning. The government now needs to add further guidance on issues like sick pay and employer liability to avoid the risk of a legal vacuum. Many firms will continue to be cautious and use extra measures to protect their staff and customers, as they have from the outset."

21 Feb 2022

CBI comments on a super deduction successor

Tony Danker, CBI Director-General, said:  

“The Chancellor’s super deduction exemplified the boldness in public policy that we need to inspire investment and get the economy moving. Going by our survey results, it looks to be a real success. It’s started the job but cannot be a one-hit wonder. Evolving the policy from short-term fix into long-term strategy will give firms confidence that Government and industry are aligned."

20 Feb 2022

CBI announces presidential nomination Brian McBride

Tony Danker, CBI Director-General, said:

“I am hugely excited that Brian has been approved by the Board for consideration at the AGM to be the next CBI President. His career journey makes him an unmistakably authentic business leader who understands the challenges facing local SMEs and global listed firms alike. His typical Glaswegian candour combined with his experience in some of the most prestigious boardrooms in the corporate world will prove invaluable to CBI and our members as we work to help them grasp the exciting opportunities in the decade ahead.”

18 Feb 2022

Response to latest GDP figures

Rain Newton-Smith, CBI Chief Economist, said:

“The UK economy saw a lacklustre end to the year hit by the emergence of the Omicron variant and Plan B restrictions. While the worst of the impact appears to be over, firms are still grappling with supply shortages and cost pressures, while households are facing a looming cost of living crisis."

11 Feb 2022

Our response to OFGEM price cap rise

Matthew Fell, CBI Chief Policy Director, said:

“The rise in the price cap was inevitable but will pile more pressure on squeezed household incomes. “The Government is right to focus on the most vulnerable customers but must urgently work in partnership with energy suppliers to ensure these measures are effective."

03 Feb 2022

CBI responds to Levelling Up paper

Matthew Fell, CBI Chief Policy Director, said:

“The Levelling Up White Paper is a serious assessment of the regional inequalities which have hamstrung the UK’s economic potential for generations. It offers a blueprint for how government can be rewired and an encouraging basis for how the private sector can bring the investment and innovation to start overcoming those deep-rooted challenges, and power long term prosperity for every community, wherever they live."

02 Feb 2022

CBI comments on end to Plan B in England

Matthew Fell, CBI Chief Policy Director, said:

“There’s a vital need now for greater consistency in how we live with the virus in the longer term. Swinging back and forth between restrictions and normality has been damaging."

19 Jan 2022

Response to latest inflation figures

Alpesh Paleja, CBI Lead Economist, said:

“We’ve not seen the end of rising inflation yet. We expect it to peak in the months ahead, not least if, as expected, the energy price cap is raised.

19 Jan 2022

CBI responds to latest GDP data

Alpesh Paleja, CBI Lead Economist, said:

“Implementing Plan B in December was the right thing to do, but with Covid clearly here to stay, the Government must now act to prevent the need for further restrictions on activity. This includes providing clearer forward guidance to support business adaptation, prioritising mass-testing over mass self-isolation, and ensuring that travel controls are proportionate so that the UK remains open to the rest of the world.”

14 Jan 2022

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