Guest Column: All parties must work to get economy back on feet

AS MANY had predicted, last night did not produce a decisive result for any one party. The issue of where we go from here is clearly one for the politicians, but for the sake of the entire country let's hope a workable solution will emerge soon and we avoid getting bogged down in endless rounds of horse-trading. We must also ensure support from minority interests doesn't come at the expense of the overriding need to get our economy back on its feet.

Whatever the shape of the next government, it is vital that its two key priorities are addressing public finances and putting in measures to grow the economy. We need to reduce the 165 billion deficit, which hangs over our prospects like a fresh cloud of volcanic ash. If we fail to address this we will risk going the same direction as Greece, where years of inaction is creating chaos. Our political masters should take note. If ever there was a time for party politics to be put to one side for the greater good of the country, it is now.

The new government needs to focus on encouraging entrepreneurship by supporting business and alternative commercial structures such as social enterprises. They will need to ensure that businesses and the jobs they create aren't punitively taxed at a time when we really need them to succeed and lead us out of this mess. The government must also ensure transport and energy are put to the top of the list – we cannot dither on these issues any longer. These are core areas which require support and clear policy direction if we are to get the UK moving forward.

Finally, we must also seize the opportunity and deliver real public services reform, especially in Scotland where the public sector remains too large. We need to protect key frontline services but all other structures and roles need to be reviewed – we simply cannot continue with the status quo. Does a country of five million really need 32 separate local authorities, 14 NHS health boards and eight police forces?

During the campaign none of the parties would admit this, but the reality is that we will all need to incur some pain to ensure longer term prosperity and first rate public services. Politicians need to put the nation's interests first and work together to ensure the UK is able to move forward.

• David Watt is executive director of the Institute of Directors (Scotland).