Thursday 06 October 2022

UK business leaders urge Tories to focus on the economy

In an interview to the Financial Times following the end of the Conservative Party Conference 2022 Alexander Temerko said:

“I attended the conference and had the opportunity to communicate directly with the PM and the Chancellor. I appreciate their focus on massively developing opportunity for businesses, and attracting investors and investment into the UK economy.

I understand that the balance between tax cuts, debt repayment, and the social responsibility of the state is the most difficult issue of macroeconomics and the budget. However, I’m not entirely sure that the Government has a long-term stabilization plan for the pound, nor necessarily a detailed programme to build export potential with a weak pound. But the Government today does have a unanimous opinion on the issues of deregulation and management of the energy crisis.

I hope the issues of tax reform and industrial policy will be addressed by this Government by working with business leaders to do so; today, without direct cooperation between business and the Government, it will be difficult for the latter to convince the public of the effectiveness of the reforms and schemes it declares.”


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