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The next prime minister needs to act fast to set out a pro-business strategy for the UK to repair the damage caused by Brexit stalling progress in the economy over the past three years, according to the UK’s largest employers’ group.
In a business manifesto published on Monday, the CBI calls for a new national infrastructure strategy, annual business rates revaluations and improved transparency in the use of the government’s apprenticeship levy as immediate ways to boost corporate Britain.
The CBI wants Theresa May’s successor to make a clear commitment to infrastructure projects — such as the High Speed 2 rail line and a third runway at Heathrow airport.
“The next prime minister must back up his campaign promises and prove to be indisputably pro-business,” said Carolyn Fairbairn, director-general of the CBI. “Early signals matter. The UK is a fantastic place to do business but we must be honest — the reputation of our country has taken a dent in recent times.”
Boris Johnson, the front-runner to succeed Mrs May when the Conservative leadership election result is declared on Tuesday, has been on a charm offensive with British companies, attending meetings with chairs and chief executives where he has sought to portray himself as pro-business.
Last week, Mr Johnson addressed a group of company chiefs including BP’s Bob Dudley, Whitbread’s Alison Brittan and Rolls-Royce’s Ian Davis at a meeting organised by Tulchan, the public relations firm, where he pointed to his business successes as London mayor.
He told the group that he wanted to support wealth creators in the economy, according to two people who attended the meeting, and emphasised the need to invest in infrastructure such as roads and rail, and improve internet connectivity.
The people in the meeting said that Mr Johnson played down the negative impact of Brexit.
Business leaders have been worried about the stance taken by Mr Johnson after he was reported last year to say “fuck business” in relation to industry concerns over a hard Brexit.
Many company bosses are especially worried abut the impact on the economy and trade if the UK leaves the EU without an agreement.
Ms Fairbairn said: “[The new prime minister] should take a transformative approach to making the country more competitive, innovative and inclusive. We urge the next prime minister to act fast to get the economy back on track. Brexit uncertainty remains a challenging backdrop and we couldn’t be clearer that a no deal outcome will be seriously damaging.”
Given fears over the shortage of skilled workers in the event of a hard Brexit, the CBI also wants to replace the government’s net migration target and reduce the £30,000 salary threshold for foreigners applying for certain UK employment visas.
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