Show Hide image

Businesses want new government to sort public finances

British Chamber of Commerce calls for clear plan putting business growth at centre stage.

Major UK business leaders have urged David Cameron's new coalition government to prioritise the restoration of government finances, through cutting public spending and promoting business enterprise.

While the Confederation of British Industry called for a "stable government... to take tough decisions", the British Chamber of Commerce said it wanted to see "a clear and achievable plan... that puts business growth at the centre stage".

The new government has announced a "significant acceleration" of efforts to cut budget deficit, which will include £6bn in spending reductions this year.

Chancellor George Osborne is expected to hold an emergency budget within 50 days of the new government, even as British shares, bonds and the Sterling weakened a little on Wednesday.

BBC business editor Robert Peston commented that "investors need a bit of convincing that what's been created is a strong, fiscally credible government".