The CBI Response To Philip Hammond's Speech
Carolyn Fairbairn, CBI Director-General, said:
"The Chancellor has given a passionate defence of free markets and the importance of business and government working to tackle inequality. That is necessary, but not sufficient.
"The UK is facing a generation defining-challenge. A potent cocktail of Brexit uncertainty and dogma-driven politics on both left and right threatens jobs, investment and living standards. Now is not the time for half measures.
"The speech shows a government strong on diagnosis, but weak on action. Businesses looking for clear vision and urgent delivery have been left with slim pickings. Renewing the UK's creaking infrastructure will unlock regional growth and living standards, as will improving access to housing. But they are only parts of the puzzle.
"It is time for honesty about the challenges we face. Our economy is under threat - it has moved from the top of the G7 to the bottom. Faltering consumer and business confidence risks lowering living standards. Rising inflation is putting pressure on households.
"The solution must be for responsible business and government to grow our way out of austerity. But this can only happen with clarity, unity and action. Today's speech was only one step in that direction."
The CBI Response To Philip Hammond's Speech, 3rd October 2017, 9:43 AM