Despite the possibility of the recent austerity budget averting a deeper recession, the UK government must focus more on growth to improve the country's long-term prospects, according to the Confederation of British Industry (CBI), which recently called for unlocking private investment and changing rules ‘to overcome political barriers’, with more migration needed to fill vacancies.The business lobby group's director general Tony Danker said Prime Minister Rishi Sunak cannot merely concentrate on taming inflation and businesses must also show "even greater ingenuity than during COVID."
“Aggressively getting inflation down is the right thing to do, especially after the market response to the mini budget. Market stability is a precondition to growth. And I pay tribute to the Prime Minister and Chancellor for taking the tough choices needed to achieve that,” Danker added.
Despite the scope of the austerity budget averting a deeper recession, the UK government must focus more on growth to improve long-term prospects, according to the Confederation of British Industry (CBI), which recently called for unlocking private investment and changing rules 'to overcome political barriers', with more migration needed to fill vacancies.#
ALCHEMPro News Desk (DS)