The CBI, has warned the government that it needs to do more to boost the attractiveness of the UK to overseas investors or risk its recovery plan failing.
A survey of 120 business leaders interviewed by the CBI found it was performing “relatively poorly” in the four most important criteria, with its positon eroded in key areas such as taxation and the nature and level of its regulation.
Comments from the survey included “Tax levels are very high and low return”, there is “significantly greater support in other countries in new investment”, and that “legislation adds significant cost in the UK compared to Western Europe”.
Prime minister David Cameron speaks to the CBI’s annual conference today and will spell out the government’s plans to get the economy growing and also to attract investment into the UK.
Cameron plan involves three steps
If the Coalition’s efforts to improve the general business climate are viewed favourably, it must improve the UK’s competitiveness as a destination for investment and ultimately be helpful for growth and jobs.
Author: Chris Slay
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