The British Chambers of Commerce (BCC) today publishes its Quarterly Economic Survey – the UK’s largest and most authoritative private sector business survey.
BCC to Prime Minister: Time to 'fix the fundamentals' for UK growth
Chamber business leaders from across the United Kingdom have today (Tuesday) written to the Prime Minister calling for a renewed focus on tackling the barriers to growth and investment in the United Kingdom - and a radical plan for action.
Gathered today in Manchester, Chamber business leaders are calling on the Prime Minister to balance the importance of securing the best possible deal with the EU with the urgent need to set out a compelling vision for UK growth and a bold set of domestic policies to fix the fundamentals at home.
Business communities throughout the UK are concerned about perceived inaction in Westminster and Whitehall on key domestic economic matters - where attention and swift action are needed for the UK to succeed after it leaves the EU.
Writing on behalf of the 53 accredited Chambers of Commerce from every region and nation of the UK, Dr Adam Marshall, Director General of the British Chambers of Commerce (BCC), says:
“Our future success depends not just on Brexit negotiations, but also on the big economic decisions that must be made here in the UK. It is time, Prime Minister, for you to set out a compelling, pro-enterprise and pro-growth vision for the future, and a bold set of domestic policies to make it happen.
“It is time for you to tell business communities across the UK how your government will act – fast – to stabilise the faltering training and apprenticeship system and give clarity on migration rules, as businesses face unprecedented labour and skills shortages all across the country.
“It is time for visible action to rebuild our rutted and potholed roads, to use the resources of the state to build more homes, and to speed up the delivery of airport, rail and energy upgrades.
“It is time to eliminate the significant gaps in mobile and digital connectivity that continue to strangle business productivity and UK competitiveness – the central theme of our ‘No More Not Spots’ campaign.
“It is time to set a new mandate for HMRC and economic regulators to support, rather than pursue and punish, the small and medium-sized firms that can drive future growth, and focus their enforcement activities on the small number of companies pursuing questionable practices that are ultimately paid for by the rest.
“After decades of delay and incremental change, it is time to tackle the huge costs and complexities of the UK tax system, which actively discourage investment, risk-taking, and the stronger export performance we all want to see.
“And it is time for your government to deliver a far more explicit blueprint to support economic growth in all regions and nations – including greater local decision-making, away from the centralising instincts of Westminster and the devolved administrations.
“Prime Minister, the many thousands of firms we collectively represent are clear: business as usual is not good enough at a time of significant uncertainty. A concerted drive to ‘fix the fundamentals’ would unlock business confidence and investment – and set the UK on a path to long-term growth, alongside a comprehensive settlement between the UK and EU.”