CBI responds to Rachel Reeves speech on the economy

Louise Hellem, CBI Chief Economist, said:

“The first test for whoever wins the next general election is to build a competitive, resilient, and growing economy that works for people across the country.

“Moves to protect and empower independent fiscal oversight, tackle restrictive planning processes, and bring economic activity together under an updated industrial strategy would all be welcomed by firms craving certainty to invest.

“However, businesses will also be keeping a watchful eye on policies that could impact labour market flexibility. Poorly targeted legislation, however well intentioned, could risk damaging a key strength of the UK economy without having the desired effect on living standards.”