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Cameron's coalition gains CBI support on policy choices
General News |
19/08/2010
The Con-Lib coalition has made an encouraging start to its parliamentary term, but there is still room for improvement, according to a leading business figure.
Richard Lambert, director-general of the Confederation of British Industry, said he had formed a largely positive impression of the new government during its first 100 days in office.
He claimed that significant strides have been taken in some policy areas, most notably on public-sector pensions and fiscal policy covering the budget deficit and corporation tax.
However, Mr Lambert noted improvements could be made in the areas of innovation and skills, energy security and climate change, financial reform and international trade.
And on development, planning and employment law relating to retirement, he expressed disappointment at the government's approach thus far.
"But the overall judgement to date is positive," he stated.
"Business has a strong interest in the success of the coalition; the last thing it wants is a period of drift and political uncertainty. And it has been impressed by the speed and direction of policy-making to date."
Mr Lambert praised David Cameron's team for its determination to get the public finances back into shape as quickly as possible.
He described June's emergency Budget as being "bold and audacious", something he said was needed given the magnitude of the deficit.
"Although there are many risks and uncertainties ahead, the dangers of inaction on fiscal policy seemed to most business people to be even greater, given the unsustainable policies inherited from the previous government," Mr Lambert said.
Chancellor George Osborne used his June Budget to cut both the main rate of corporation tax and small business rate, triumphantly declaring Britain to be "open for business".
Posted by Stephen Wilkinson
