UK ‘cannot afford power vacuum’ – CBI warns

The CBI is today firing a warning shot at politicians as it urges all parties to be ready with concrete financial plans should they end up in government after 7 May.

John Cridland had a warning for all parties. Picture: Toby Williams
John Cridland had a warning for all parties. Picture: Toby Williams

The business organisation says that, whatever the make-up of the next UK government, the new cabinet “must get down to business with a clear delivery plan for the first 100 days to keep economic growth on track, boost investment and create opportunities for all”.

In Best Foot Forward – the business plan for the first 100 days – the CBI urges the new government to focus on pro-enterprise measures and to take steps to get on top of the country’s finances.

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As an immediate step, it is calling on the new government to outline its fiscal rules for the Parliament and initiate a Comprehensive Spending Review. CBI director general John Cridland said: “Whether we have a majority, minority or coalition government, we ask those involved to ensure that the period of post-election uncertainty is kept to a minimum.

“We cannot afford a power vacuum that delays urgent policy decisions and unsettles potential investors, so any new cabinet must get down to business as soon as possible.”

But he added that, should “horse-trading” be required to form a new government, politicians “must not duck the tough questions just to reach agreement and risk undermining the recovery before the ink has dried”.

“Much remains to be done to secure the UK’s economic future and business wants to see a confident, new administration getting into its stride by taking action on the key priorities, including staying on top of the public finances, meeting the urgent demand for new homes and making progress on EU reform,” Cridland said.