Speaking at his first BCC Annual Conference in the role, he said: "Businesses are busting a gut to grow, create wealth, employ people and find new markets for export. Most of them have told me: 'It's tough, but we're doing ok. What we really need, more than anything, is a truly, business-friendly environment.' And I say, that to achieve this, Government must understand how the multitude of small regulations and interferences add up to a huge mountain to climb. "On top of this, we have in Britain an impossible planning regime which prevents our development and growth. We have terrible infrastructure, which adds cost and 'dumbs down' economic activity, and a shortage, in our people, of both soft and technical skills. We have young people failed by the education system and a Whitehall machine that knows nothing of how a business really operates - and cares less.
"We, at the BCC launched our 'Business is Good for Britain' campaign a few weeks ago, and commissioned some independent research on public attitudes to business. I would imagine this will surprise some, but it showed that 82% of people thought that if a business creates wealth, pays taxes and abides by the law, it is good for Britain. Of course, many businesses do much more than this.
"Why is it that we are so fixated on one quarter of the economy? Banking and public services together represent less than one quarter of GDP, and less than one quarter of employment in the UK. We obsess about them in the good times, and we obsess about them in the tough times. Yes, public services are having it tough, but they need to become more productive and things will get better.
"Firstly, the freezing of business rates and the scrapping of the 5.6% rise planned for April this year. Businesses should not be hammered with a rise, whilst council tax is frozen. "Secondly, a new capital allowance must be brought forward - a when it's gone, it's gone capital allowance fund of at least £1 billion to reward those businesses prepared to invest in the next two years, with a 100% capital allowance. This should be a tax priority.
"And finally on youth unemployment. The value of the Youth Contract should be doubled from £1 billion to £2 billion, so that the scheme can be extended to all the young people it could benefit. This should be a policy priority.
"In addition to these immediate priorities, the government needs to tackle aspects of the economy where there is national, market failure, for example in the area of infrastructure development. Reliable estimates show that we have an infrastructure deficit in the UK of a massive £400 to £500 billion. The private sector is willing to invest, but this capital cannot be unlocked without a proper plan. Business cannot deal with this issue alone, because it requires permission. It is, after all, a regulated area.
