Business leaders called for the next government to revitalise “Brand Britain” with a credible plan for economic growth within 100 days of being elected.
The Confederation of British Industry (CBI) has called for an immediate “cutting-edge trade and investment strategy” designed to increase UK exports, secure imports and grow investment.
The UK’s standing as a world leader in green growth requires boosting with a Net Zero Investment Plan ready to foster investment opportunities so firms want to invest and grow in the UK, it said.
The business lobby group also called for a plan to unlock the potential of the UK regions by aligning an industrial and trade strategy behind the role of UK mayors via a new industry-partnered Mayoral Economic Compact.
Its business manifesto says with public spending squeezed and monetary policy likely to remain tight, economic growth will come from the private sector.
“With capital in short supply, and the UK in a global race for investment, the defining challenge for the new government’s first 100 days will be to develop a credible plan to crowd in private sector investment,” it says.
Rain Newton-Smith, the CBI chief executive, said: “The UK economy has spent the last five years buffeted by a series of ‘one-off’ shocks – from the aftermath of Brexit, to Covid, to global conflict and the subsequent energy crisis.
Photo: Hollie Adams/ Bloomberg.
“As a result, our economy has understandably focused more on shock absorption than on boosting growth.”
She said that at the top of politicians’ in-trays “should be sharpening the investor pitch for ‘brand Britain’ – ensuring we are at the very top of the league table when it comes to investment.
“A focus on building momentum behind the ‘big three’ enablers across tax, planning and the labour market within the first 100 days can give firms a clear flight path for growth.”
UK firms could see “bright spots emerging”, she said, but the challenge of sluggish growth, underperforming business investment and ongoing labour and skills shortages remained persistent.
“We want to see a new government deliver a bold pitch to investors across the globe, restore the UK’s competitiveness and double down on our climate commitments,” she said.
“A new government of whatever colour provides an opportunity to shift gear and prioritise the long-term decisions that can deliver a decade of sustainable growth.”
