Responding to Andy Burnham’s speech at the Labour Party Conference, Shevaun Haviland, Director General of the British Chambers of Commerce, said.
“This was a powerful speech in which the Prime Minister took a long-term view and signalled a willingness to make tough choices.
“He gave business some encouraging signals that his government will avoid adding to the cost of doing business.
“But next month’s Budget will now be the critical test, it must cut those costs, unlock growth and let the entire country benefit.
On public control:
“The business community will be concerned about the potential for greater public control. State control should not be the default answer to poor performance in utilities and critical infrastructure.
“Business needs certainty, targeted regulation and a clear public value test, so investment keeps flowing and customers see better outcomes.
On triple lock / welfare reform:
“It was encouraging to hear the Prime Minister reiterate his commitment to bringing down the welfare bill. With taxes maxed out and borrowing costs at a premium, government spending must be the key part of the fiscal equation to change.
“The British Chambers of Commerce has called for an honest debate about big ticket measures such as the triple lock, and this is something businesses will welcome today.
On AI:
“Putting AI centre stage is key to turbocharging economic growth. We have great innovation and a focus on leading global regulation.
“But we need a bolder strategy on adoption that helps all business stay ahead of the technological journey.
On the EU relationship:
“The Prime Minister’s pragmatic tone today on rebuilding our relationship with the EU is welcome.
“Businesses want a strategic long-term plan to make trade with our largest export market easier, cheaper and faster, so they can focus on growth. The Prime Minister gave a clear indication he has heard our call and promised the UK/EU summit will take place by the end of the year.
On energy costs:
“The Prime Minister also rightly diagnosed that faster connections to the electricity grid and driving down energy costs are key drivers for economic growth. But it’s crucial that more detail on the Great British Grid and how it will operate are quickly outlined.
“We welcome his pledge to make pragmatic choices on the North Sea transition.
“While consumers and the very smallest businesses will benefit from the scrapping of VAT on electricity from this week, businesses will be left waiting for benefits of market reform before their bills are cut.
On devolution:
“As the Prime Minister looks to drive growth through devolving power closer to people and places across the UK, we want to see more economic levers given to communities across the UK.
“Working effectively with the Chamber network will help the government deliver the growth we all want to see.”