New UK PM must restore confidence and spur investment - UK's CBI

Omkar Godbole FXStreet Contributor

Prime Minister Theresa May's successor must look beyond Brexit and restore economic confidence to spur investment, the Confederation of British Industry (CBI) said while launching a "business manifesto" for the new government, according to Bloomberg.

Key quotes by CBI Director-General Carolyn Fairbairn

“We urge the next prime minister to act fast to get the economy back on track."

“The reputation of our country has taken a dent in recent times. Our new prime minister has a real chance to inject a new lease of life into the U.K. economy and show the world we are open for investment.”

Other requests (source: Bloomberg)

Reforms to business rates and the national apprenticeships program
Abolishing the government target on net migration and reducing the salary threshold for immigrants taking up key jobs.
Improving energy efficiency and tightening building standards to help Britain meet it’s target to eliminate greenhouse gas emissions by 2050.
Urgently securing continuity trade deals with nations it currently deals with through EU-brokered agreements and reinforcing a commitment to raise research and development expenditure to 2.4% of GDP by 2027.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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