BCC’s Haviland: Burnham must make growth his number one priority

cityam

Jun 25

The BCC's Shevaun Haviland said low confidence was ruining firms' risk appetite Andy Burnham must place economic growth at the heart of his premiership and promise to bring down costs for businesses ...

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In the two years since being elected, GDP did not grow by more than 1.4 per cent in a year, though supporters would argue that his plans were waylaid by Donald Trump’s tariffs and the war in Iran.A barrage of tax hikes on the private sector – including the fateful 24bn employer national insurance and business rates raids – caused several business ","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4567":"ESG概念","BCC":"Boise Cascade L.L.C.","BK4104":"贸易公司与经销商"},"translate_title":"BCC的哈维兰：伯纳姆必须将增长作为第一要务","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BCC":1.5},"content_text":"The BCC's Shevaun Haviland said low confidence was ruining firms' risk appetite Andy Burnham must place economic growth at the heart of his premiership and promise to bring down costs for businesses if he wants the Labour party to win back the trust of the private sector, the boss of Britain’s largest industry body will say.In a speech at the British Chambers of Commerce’s annual conference, director general Shevaun Haviland will accuse successive governments of hobbling businesses’ prospects and “failing to fulfil” Britain’s potential. “The difficult truth is, whoever leads the UK, the primary challenge remains the same – delivering growth,” she is expected to say.“Taxing businesses more would be a road to ruin,” she will add. ”The quickest way to destroy the fragile confidence that we have left. You must back businesses, not tax them, if you want to see growth.”\n\nHaviland will make her remarks at a critical juncture for the UK’s economic policy, after Keir Starmer’s resignation paved the way for Andy Burnham to become the fourth Labour prime minister of the 21st century. \n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe former Manchester mayor is in the throes of formulating his economic agenda and choosing his Chancellor, after it emerged Rachel Reeves would be demoted from her post should he sail through the leadership contest unchallenged as is expected.Haviland: Governments have failed on growth missionDespite promising to make economic growth its “number one priority”, Starmer’s government largely failed to revive the UK’s stuttering economy. In the two years since being elected, GDP did not grow by more than 1.4 per cent in a year, though supporters would argue that his plans were waylaid by Donald Trump’s tariffs and the war in Iran.A barrage of tax hikes on the private sector – including the fateful £24bn employer national insurance and business rates raids – caused several business surveys to show confidence levels at an all-time low. \n\nIn her speech, Haviland is expected to say that rectifying bosses’ lack of faith was the easiest route to solving Britain’s economic woes. “Weak confidence reduces appetite for risk, which reduces investment, which hampers growth, which knocks confidence further,” she will tell delegates.“And this circular crisis of confidence is now shackling ambition. Blocking the actions needed to invest, innovate and trade.  And whoever sits in No 10, or the Treasury, needs to understand that.”Haviland – who has now been at the helm of Britain’s largest lobby group for more than half a decade – will give her address at Thursday’s summit alongside Reform UK’s Robert Jenrick and Green Party leader Zack Polanski.Attendees will also hear from the lobby group’s newly installed president, Andy Haldane. The former Bank of England chief economist has been acting as an informal economic adviser to the Burnham campaign, according to reports.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}