Coalition’s First 90 Days “Has Been Encouraging”, Says Liverpool Chamber

In a review of the Coalition Government's first 90 days in power, Liverpool Chamber of Commerce believes that there have been a number of positive and encouraging decisions, but there are still areas requiring urgent action before the end of the year.

Ahead of May's General Election, the Chamber set out a business manifesto for the city stating eight clear policy challenges - a prescription to secure and grow the city's economy onto a sound and sustainable footing.

Jack Stopforth, Chief Executive of Liverpool Chamber of Commerce commented: "Early action on deficit reduction and burdensome employment regulation has been strongly welcomed by business - and many of the measures in the Chancellor's emergency Budget struck the right balance. We welcomed the Government's move as a step in the right direction; a full reversal of the employer NICs rise would have helped more businesses to create jobs.

"While the commitment to deficit reduction is not in question, it is critical to ensure that vital capital investment - especially in infrastructure - is spared further cuts in the Comprehensive Spending Review. We will be keeping a close eye on funding for those projects that will benefit the city region's long-term economic sustainability.

"The Government must make it absolutely clear that it intends to maintain, and even grow, investment in productivity-boosting infrastructure. Clarity on the state of the region's business infrastructure - transport, energy, and digital - is critical for long-term investment planning.

"We are concerned about the future of vital projects such as Mersey Gateway, rail upgrades dealing with electrification, high speed rail and capacity upgrades at Liverpool Central Station.

"The Prime Minister must make the appointment of a dedicated Trade Minister a matter of urgency for his Government. The appointment should be accompanied by major policy work, focused explicitly on how to grow our exports and strengthen the UK's presence in international markets.

"Given the critical importance of export growth to the rebalancing of the UK economy, UKTI's trade promotion budget must not be slashed - as the organisation will play a key role in attracting more firms to export, and in helping others to expand their existing export quantities overseas. The Government should be setting out plans to strengthen UKTI, rather than weaken it through cuts."

For further information contact:
Pamela Holstein
Press Officer
0151 227 1234 x 2203
M 07725 413485
Pamela.holstein@liverpoolchamber.org.uk