Home Business News CBI chief warns ‘confidence in Britain is faltering’

CBI chief warns ‘confidence in Britain is faltering’

by Mark Fitt Political Journalist
18th Nov 19 2:44 pm

Carolyn Fairbairn, director general of the CBI has said that confidence in Britain is faltering amid “extreme ideology” on both sides of the political divide.

Speaking to the business groups annual conference in London Fairbairn said, “On the right, we have the threat of even preference for no-deal as the end point of our Brexit negotiations.

“For some on the right, this preference for no deal is driven by a zeal for something beyond this and that is the wholesale deregulation of the UK economy.

“But I want to be clear that this is not what British firms, large or small, want.

“But when no-deal becomes an ideology of its own, seemingly intent on ignoring the impact on jobs and livelihoods, then we have a problem.

“Meanwhile, ideology from the left is at least as damaging. The Labour Party is proposing the biggest programme of renationalisation this country has ever seen, at great cost, with uncertain returns to the taxpayer, and with no clear route to better customer service.”

Labour’s announcement last week to privatise parts of BT, “sent a chill through boardrooms at home and abroad” and was a “blot from the blue” she said.

The director general added, “Many firms are questioning whether their investment is safe, and some thinking are we next?

“These ideologies from both sides are causing great harm to our economy. Not just in the future but right now.

“To see this, you only have to look the effect on business investment, which has fallen in five of the last six quarters. Confidence in Britain is faltering.”

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