Business groups warn that fragile economy is on shaky ground

08 Oct 2021

Business groups have warned Prime Minster Boris Johnson that the UK economy is fragile and the recovery from the coronavirus (COVID-19) pandemic remains on shaky ground.

The Prime Minister's speech at the Conservative Party conference outlined his vision for an optimistic UK, buoyed by higher wages and improved opportunity for all.

However, the only new policy was a 'levelling-up premium' for education, worth up to £3,000, to 'send the best maths and science teachers to the places that need them most'.

Shevaun Haviland, Director General of the British Chambers of Commerce (BCC), said: 'There is much in the Prime Minister's ambition for the future of the UK which should be rightly applauded, but what businesses urgently need are answers to the problems they are facing in the here and now.

'Firms are dealing with a cumulative crisis in business conditions as supply chains crumple, prices soar, taxes rise and labour shortages hit new heights.'

Tony Danker, Director General of the Confederation of British Industry (CBI), said: 'Ambition on wages without action on investment and productivity is ultimately just a pathway for higher prices.

'It's a fragile moment for our economy. So let's work in partnership to overcome the short-term challenges and fulfil our long-term potential. It's time to get around the table, roll up our sleeves and get things done. It's time to be united.'

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