David Cameron to meet business leaders over growth strategy

THE PRIME Minister is meeting leading business figures today after ministers hit out at companies over their unwillingness to invest in the future.

Defence Secretary Philip Hammond accused company bosses over the weekend of “whingeing” while Foreign Secretary William Hague said they should stop complaining and get on with the business of wealth creation.

The disagreement erupted after business groups criticised the Government’s failure to include any measures to stimulate the stagnant economy in last week’s speech.

It sets the scene for a potentially tense meeting when the Prime Minister, David Cameron, sees members of his business advisory group today - including some of the most senior business figures in the country.

Mr Hague opened the assault, dismissing the complaints about the lack of a growth strategy with a blunt message that the only answer to Britain’s economic woes was to “work hard”.

Last night, Mr Hammond accused large firms of being unwilling to take risks to invest in the country’s economic recovery.

“Large businesses are sitting on a pretty large pile of cash,” Mr Hammond said.

“What we have got to try and do is persuade businesses to take the plunge, to just use some of their cash pile, to take a judgment about where demand is going, where the economy is going in the future, and be prepared to back their judgment with investment in British jobs and capacity in the British economy.”