Fri, 09 Jun 2017 | BUSINESS NEWS
British businesses have responded to the general election results with a plea for the economy to be at the top of the agenda, warning the forthcoming government that this is a "serious moment" for the UK economy.
"The priority must be for politicians to get their house in order and form a functioning government, reassure the markets and protect our resilient economy," according to Carolyn Fairbairn, director general of the CBI.
"For the next Government, the need and opportunity to deliver an open, competitive and fair post-Brexit economy that works for everyone across all our nations and regions has never been more important. This can only be achieved if the next government doesn't put the brakes on business, remains open to the world and sets out a pro-enterprise vision," said Fairbairn.
Business leaders went into the election divided, with many who were traditionally supportive of Conservative policies being alienated by Theresa May's insistence on a hard Brexit — involving a departure from the EU single market and a commitment to abandoning free movement.
The hung parliament, which will result in a weakened Conservative administration, will make for a much more uncertain environment for companies to make investment and hiring decisions.
Many businesses are concerned about the prospect of a greater Labour influence, who many see as more anti-business because of higher business taxations, plans to renationalise industries and raise government spending.
Adam Marshall, director-general of the British Chambers of Commerce which represents over 75,000 UK companies, said the electorate's split decision is causing further anxiety at a time when businesses are already dealing with rising costs, currency fluctuations and uncertainty over Brexit.
“The formation of a workable administration that can give voters and businesses confidence around economic management must be the immediate priority,” he said.
A leading engineering firm focusing on electric power steering solutions and bespoke wiring harnesses serving various industries. It operates as two entities both reputable for maintaining high standards and offering bespoke solutions for clients. In...
Market-leading fruit and vegetable supplier distributing fresh produce and complementary goods both wholesale and D2C. The companys uncompromising drive for customer satisfaction has built strong relationships with across an enviable client base incl...
Turnkey construction services provider completing a range of projects with expertise across maintenance general refurbishment new build and conservation including work on listed buildings. The company provides full-service construction works utilisin...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.