CBI: Spending review cannot hamper growth
Sep 21 2010
Spending cuts mustn't hamper growth, says CBI
The government spending review must protect economic growth, says the Confederation of British Industry (CBI).
The business group has called for the government to protect investment in areas that do most to foster growth, such as infrastructure, research and development and education and skills.
John Cridland, CBI deputy director-general, says: ‘Cutting spending means tough choices. We think that the need for economic growth, not the noise of the loudest voice, should determine where cuts are made.’
The CBI wants to see more business relevance in research and development at a national level and a refocussing of online general business support, with face to face support on high growth businesses.
For human capital, the organisation suggests an increase in the number of employer-led apprenticeship places, with welfare reform to get more people back into work also a suggestion.
Business-relevant research should be encouraged, such as maintaining funding for the Higher Education Innovation Fund.
Adds Cridland: ‘The government must use its limited resources to support a healthy private sector recovery so it can pick up the slack from the public sector.’
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