Rishi to The Rescue – Business Organisations Welcome PM

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UK business organisations have commented on the installation of Rishi Sunak as Prime Minister. What have they got to say? Most of it is positive – read the best here.

Shevaun Haviland, director general of the British Chambers of Commerce said: “The political and economic uncertainty of the past few months has been hugely damaging to British business confidence and must now come to an end. The new Prime Minister must be a steady hand on the tiller to see the economy through the challenging conditions ahead. This means setting out fully costed plans to deal with the big issues facing businesses; soaring energy bills, labour shortages, spiralling inflation, and climbing interest rates. 

“We cannot afford to see any more flip-flopping on policies - the UK’s businesses need a sustainable, long-term economic plan they can believe in.”

Haviland contiuned: “Firstly, the government must provide more certainty on the energy support package for businesses and quickly communicate how the system will work from April. Firms need to know what support to expect in the medium and long term.

“Secondly, they must fix the extremely tight labour market. Without the skilled people to do the jobs businesses need, the economy will stagnate.

“Thirdly, to grow the economy, government must set out a strategy to boost our international trade and exports.

Haviland added: “People run businesses and businesses rely on people. The new administration must grasp that the cost of living and cost of doing business crises are two sides of the same coin.”  

Confederation of British Industry

Tony Danker, CBI Director-General, said: “The new Prime Minister has a track record of seeing the economy through difficult times and is coming in at a time of great uncertainty with tough choices ahead. He can lose no time in easing the impact of market turmoil on households and firms and helping to restore fiscal credibility.”

Federation of Master Builders

The FMB warned that the government’s new agenda must strengthen small builders’ ability to contribute to growth and support jobs right across the UK.

Brian Berry, chief executive, said: “Rishi Sunak’s premiership must bring to an end to the turmoil of recent economic and political events and deliver stability and confidence for small, local builders. These firms, operating in towns and villages right across the UK, are ideally placed to be at the heart of levelling up, helping to create and support jobs, and contribute to growth and productivity.

“But builders will only manage this if consumers can afford to get work done on their homes. So inflation, interest rate hikes and recent shocks to mortgage rates must be countered by policies that help keep Britain building. With the crisis of energy bills an urgent item in Sunak’s in-tray, I hope he will honour commitments to home energy efficiency made in the 2019 manifesto and realise the potential of a long-term retrofit strategy to help cut bills, reduce energy demand, and keep builders busy.”

Berry added: “The new government must also maintain its commitment to planning reforms to make it easier for small house builders to build high quality homes in areas that people want them, and be cautious of the impact of possible cuts to come on a planning system already struggling to deliver.”

Local Government Association

Chairman of the Local Government Association, Cllr James Jamieson, said: “Without certainty of adequate funding - and given the funding gaps they are seeing - councils will have no choice but to implement significant reductions to services including to those for the most vulnerable in our societies. In these difficult times, we all need to come together and work in the best interests of our residents. The PM needs to ensure councils have the funding to meet ongoing pressures and protect the services that will be vital to achieve its ambitions for growth and to produce a more balanced economy, level up communities and help residents through this cost-of-living crisis."

Picture: The new Prime Minister, Rishi Sunak.

Article written by Cathryn Ellis
27th October 2022

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