Business community calls on government to increase growth
In the wake of the Chancellors speech at the Conservative party conference, there have been fresh appeals for the government to increase growth and bring down the burden on business.
In his speech, George Osborne summed up the challenges the business community are currently facing, though many in the business community still feel that not enough is being done.
Terry Scuoler, chief executive of EEF, the manufacturers organisation believes it is unclear how the government can now respond to the deteriorating economic outlook.
He called for a “commitment for a further push on getting finance flowing to small businesses, and the shift in emphasis on reducing emissions”.
He also commented: “Growth isn’t simply about making things, but making it easier to invest and grow in the UK, and this will require much greater emphasis on the biggest obstacles facing the private sector.
The newly appointed director of the Institute of Directors echoed these sentiments, but praised the introduction of new employment legislation.
Simon Walker commented: “ The IoD has long called for a modest charge for bringing a case to an employment tribunal, and today’s announcement is a vital step to end the ‘no win no fee’ employment law culture that has frightened so many businesses into recruitment inertia, and we also welcome the extension of the qualifying period for unfair dismissal claims.
“Both these measures are good for employment prospects: if employers can’t fire then they won’t hire. But there are many more laws that increase the cost and risk of employing people, and these need to be looked at.”
Nonetheless, Mr Walker remained cautious about how the Chancellors plans for carbon reductions.
He added: “It makes no sense to sacrifice the UK’s competitiveness for green credentials.
“It is too early to tell what this will mean in practice, and whether the high costs of the UK’s renewables programme will be reduced, but it is a welcome sign that government climate change policy may start to move in a more realistic direction.”