Chemicals boss: Government hand-outs will not help growth
21 Sep 2010
London – Government hand-outs to business will not sustain growth in the economy, Steve Elliot, chief executive of the Chemical Industries Association warned at the Association’s annual business conference in the City of London.
Citing revised OECD growth projections that will soon leave the UK at the bottom of the G7 league, Elliot called for new emphasis and support in key areas that, he believes, most determine the UK’s international competitiveness.
Support, he said, should encompass “political encouragement, the positive and coordinated attraction of inward investment, a business-supportive regulatory climate and urgent action on energy security.
“In a cash-strapped world it is these actions that will make a real difference rather than the piece-meal public financing of projects”.
Elliot went on to tell an audience including chemical and pharmaceutical business leaders, their customers, City representatives and others, that the CIA will support the government’s bid in tackling the deficit through cutting expenditure rather than raising taxes.
Whilst advising caution in publicly attacking the role of the state, he also highlighted the crucial role of the Association in delivering support and representation to businesses across the UK without the need for government funds.
