The CBI Says The Way Forward Centers On Business Investments and Exports
The last four years have been very, very difficult for business and the economy as a whole. The government has had do make some of the toughest economic decisions many of which have not gone down well with the populace. 2012 has been singled out by the head of the CBI as the year the UK must do what it takes to finally rebalance its economy. This will be a challenging task to say the least.
To encourage business investment the government is advised by CBI director-general John Cridland government must spend on encouraging this and also on exports. This he believes will help put growth on the right path. There are no easy solutions, according to Cridland, when considering long term growth and the difficult decision must be made now and action taken right away.
Business will have to take advantage of what is happening in the local and world economy and use it to their advantage before they set up and buy new office furniture and employ staff. Trends such as the emerging economies growing middleclass, who will be able to take advantage of British goods and services from education to wine. So economies such as China, India, Russia, and Brazil which are high growth economies should be targeted by the UK.
According to the CBI the updating of the country’s infrastructure, and also growth and improvement in information technology and diversification in the renewable energy industry is very important in drawing in business investment.
The private sector will have to lead the way and the CBI suggests that some £170bn of new investment from the private sector will be needed to replace the loss in government spending and this over the next five years.
All of this must be done in conjunction with the government’s effort to drastically reduce the deficit. The task is monumental since the Euro zone crisis is continuing and the UK export much to the member countries.
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