PIR Sustainable Construction Magazine - "Much To Applaud" In Government's Approach To Economy, But "Masses Still To Do"

The Government deserves praise for its action on the deficit and focus on the economy, but there is “masses still to do” to encourage business to grow, invest and create jobs, the CBI’s President told the Deputy Prime Minister at the CBI’s annual dinner tonight (Wednesday).

Speaking to an audience of around 1300 senior business leaders, Helen Alexander told Nick Clegg that while the Government’s “intentions have been good”, it is “taking too long to get there”.

“There’s much to applaud in the approach your Government has taken. I know, though, from talking to members in every region of the country, that there’s masses still to do on implementation.

“Energy is right at the top of our list. It’s at the front of everyone’s minds. The electricity market has to be reformed. You need to make sure the market not only encourages investment to secure our future supplies, but also works for industrial and other users.

“Next, we want you to get on with changing the law on industrial action, because strikes disrupt the public and are bad for growth. We want to be sure no strike can go ahead unless it has clear support of at least 40 per cent of the balloted workforce.

“And for businesses to thrive, we have to be freer from overbearing regulation, with the right incentives in the tax system.”

On regulation, she said “one in one out” was “just a start”. Businesses carry the burden of regulation every day, she said, and “you need to lighten that load”.

On corporate tax, she mentioned the Government’s roadmap for corporate tax and said: “we need clarity on personal tax too”.

“The Prime Minister came to our conference and told us about the first infrastructure plan for the UK. But we need to see more of it on the ground, in joined-up transport policy, and efficient planning systems.”

On education and skills, she said that apprenticeships, the focus on science, technology, engineering and maths (STEM ) subjects at school, and more vocational options at 14 are “all good ideas”. “But now you’ve got to make them happen, every day, on the ground.”

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“If we work together on this agenda, we think we can achieve the revitalisation of the UK economy. More confidence, greater investment, more exports, and lots more jobs.”

Referring to the “big knock” that business took to its reputation after the financial crisis, she acknowledged that words such as “business”, “banks”, “bonuses” are “stillgreeted with suspicion, and provoke a strong reaction in many quarters”. She added: “Yet we know – and you know too, Deputy Prime Minister – it is businesses that will rebuild our economy.”

Calling on businesses to emphasise their wider social benefits, such as creating jobs, paying people and funding pensions, Ms Alexander said:

“These things have more relevance than a simple statement of shareholder value. Really good people will come into business only if they feel the part they play in it is valued by society. Our contribution must be clear.”

“It will help when businesses are more representative of the society in which they operate, which is one of the reasons I’m proud of the work the CBI has been doing about women on boards. It’s not about quotas, or tokenism; it is about bringing in the best talent, it’s about rebuilding trust and it’s about the part business plays in the country at large.”