Government must boost economic growth post-election.


A leading business group asserts that the next UK government must urgently develop a credible plan for sustainable economic growth and attract investment within its first 100 days.


After a tumultuous period for UK businesses, the Confederation of British Industry (CBI) has emphasised the need for an immediate economic focus following the General Election in July.


This call to action comes amid sharply increased interest rates, a 16-year high of 5.25%, and fragile consumer confidence due to soaring inflation over the past two years.


The CBI insists the next government must “revitalise brand Britain” to draw further investment into the country.


In its pre-election “business manifesto,” the trade group outlines that firms desire a forward-thinking trade and investment strategy from the next government. This strategy should aim to boost UK exports, secure imports, and enhance investment.


Rain Newton-Smith, the CBI’s chief executive, stated: “Top of the in-tray should be sharpening the investor pitch for ‘brand Britain’ – ensuring we are at the very top of the league table when it comes to investment.


“At the same time, a focus on building momentum behind the ‘big three’ enablers across tax, planning, and the labour market within the first 100 days can give firms a clear flightpath for growth.


“We want to see a new government deliver a bold pitch to investors across the globe, restore the UK’s competitiveness and double down on our climate commitments and opportunities.”


The CBI also urged the General Election winner to implement a net zero investment plan to create more jobs related to energy security and efficiency.


Additionally, the group stressed the importance of “unlocking the power of UK regions” and aligning future industrial and trade strategies with regional UK mayors.


Ms Newton-Smith further commented: “The UK economy has spent the last five years buffeted by a series of ‘one-off’ shocks – from the aftermath of Brexit, to Covid, to global conflict and the subsequent energy crisis.


“As a result, our economy has understandably focused more on shock absorption than on boosting growth.


“A new government of whatever colour provides an opportunity to shift gear and prioritise the long-term decisions that can deliver a decade of sustainable growth.”


The CBI's message is clear: immediate and decisive action is necessary to strengthen the UK’s economic position and ensure sustainable growth.

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