BCC warns party leaders: Give business the freedom to drive UK recovery

As the leaders of the main political parties prepare to deliver their keynote speeches during this year’s crucial party conference season, the British Chambers of Commerce (BCC) has issued a warning that all three parties must present a clear vision that gives business the freedom to create opportunities, jobs and growth to drive the UK’s recovery from recession.

The warning comes as the business group publishes its “Business Manifesto”, which sets out business policy priorities for the next Parliament.

The BCC Manifesto argues that the next government faces three fundamental economic challenges: tackling the legacy of the deepest recession in decades, reining in public spending, and identifying future sources of economic growth and jobs. The core components in the Manifesto include:

Rebuild our business infrastructure – Despite severe pressure on the public finances, vital infrastructure spending must be maintained. Governments cannot just look at ring-fencing health spending, when investment in transport, IT and energy will drive productivity and recovery.

Avoid more tax and regulatory obstacles – Since 1998 regulation has cost business £77bn. Any new employment legislation will distract firms from their main task of creating wealth for the economy, so there should now be a moratorium on new employment law. The 2011 National Insurance increase should also be scrapped, as it is a tax on jobs.

Rebalance the economy – We cannot rely on old favourites, such as financial services and the public sector to drive recovery. Instead, there must be a stronger focus on international trade and enterprise in both manufacturing and services. According to a recent BCC survey, just 31% of companies exported last year - that is not enough.

The BCC believes that no government can face these challenges alone. A new partnership must be formed, with government providing confidence and the right business environment, and businesses responding by increasing competitiveness and delivering jobs and growth.

Commenting, David Frost, Director General of the British Chambers of Commerce said:

“The UK’s 4.5 million private businesses, not the public sector, will lead this country’s economic recovery. To make this happen, future governments – from whatever party – must focus on rebuilding our infrastructure, simplifying and reducing the red tape burden, and promoting overseas trade.

“Chambers of Commerce will work with government to achieve these aims – and to deliver the economic growth we all want to see.”

Ends

Click here to download a copy of the manifesto in PDF format>>

Media Contact:

Sam Turvey
Tel: 020 7654 5813
Email: s.turvey@britishchambers.org.uk

Notes to Editors:

The British Chambers of Commerce (BCC) is the National Voice of Local Business.
The BCC sits at the heart of a powerful nationwide network of Accredited Chambers of Commerce serving business across the UK, which employ over five million people.