Member Article

Cameron desire to “keep Britain safe” amid euro-chaos

David Cameron said he will stick to plans to reduce the deficit, as the crisis in the Eurozone continues.

The Prime Minister was speaking at the Institute of Directors in Manchester, where he told business leaders it was necessary to speak out about measures to safeguard the eurozone.

He warned that problems in Greece and the survival of the euro were a “crisis that never really went away,” and that it was in Britain’s interest for the eurozone to sort out its problems.

Defending austerity measures, he said it was moving the country in the right direction, and the Government would not retreat.

Simon Walker, Director General of the Institute of Directors, which hosted the Prime Minister’s speech on the economy this morning, said: “The eurozone crisis is a major threat to the British economy, and the Government is right to look at ways to armour us against the damage it may cause.

“Sticking to the path of deficit reduction is absolutely crucial, and beyond that we need to see a drastic action to reduce the burdens of taxation and excessive regulation on business.

“If the UK is to come out of this storm ahead of the pack, we need to be the most business friendly, competitive country in the world.”

John Cridland, CBI Director-General, said:“The Prime Minister is absolutely right that deficit reduction and growth are inextricably linked.

“By tackling the budget deficit the UK has won the confidence of international markets keeping our interest rates low, at this critical time.

“The greatest threat to the recovery remains the ongoing uncertainty in the Euro area, particularly in Greece, which is making businesses press the pause button on new investments, both at home and overseas.

“In the UK, we are beginning to make headway on our plans to rebalance our economy away from unaffordable, debt-driven consumption towards exports and business investment, but this will take time.

“The Government does have a credible growth strategy but there are some short-term wins it urgently needs to deliver to help businesses grow and create new jobs.

“Now is the time to reduce regulation, give certainty on energy policies and kick-start new infrastructure projects.”

This was posted in Bdaily's Members' News section by Tom Keighley .