Partner Article

Business community applaud PM’s party speech

The business community yesterday applauded the Prime Minister’s closing speech at the Conservative Party Conference, in which he shared his visions of a deregulated economy.

The national chairman of the Federation of Small Businesses, John Walker welcomed David Cameron’s plans to help encourage entrepreneurs, but also called for “clear action to match the rhetoric”.

He commented: “We agree with the Prime Minister that the banks need to be ring fenced to stave off another credit crisis, and call on him to ensure that this and the other recommendations from the Independent Commission on Banking are enacted as soon as possible.”

Mr. Walker also encouraged the Prime Minister to further cut red tape, especially for small businesses.

He added: “It is important that the Prime Minister remembers that the lion’s share of apprenticeships reside in small businesses and so we urge him to ensure that deregulatory measures go further to allow small firms to offer more.

“Given today’s revision in GDP figures, the Prime Minister’s emphasis on leadership now needs to be accompanied by a clear and practical plan for growth.”

The manufacturers organization EEF were also supportive of the Prime Minister’s plans to place greater emphasis on manufacturing. Terry Scuoler, chief executive of EEF was particularly supportive of plans to make access to credit easier, reduce unemployment and reform planning legislation.

However, Mr Scuoler believes these measures now need to be urgently implemented.

He said: “While the governments fiscal credentials are not in doubt the economy is quickly moving on from this debate and promoting growth is a matter of urgency.

“As the politicians return to Westminster next week business will be looking for signs of a renewed vigor on policies that match the speed of economic change.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .