Plea for major policy shift to aid firms

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The region’s biggest business organisation has called for a radical shift in Government spending to get the economy back on track.

Derbyshire and Nottinghamshire Chamber of Commerce (DNCC) is urging Chancellor George Osborne to move Government money away from unproductive current spending and towards investment to underpin economic stability, job creation, exports and growth.

Its submission for the Government’s forthcoming Spending Review calls for measures to boost exports, improve access to finance for growing businesses and pump major investment into house-building, road maintenance and infrastructure.

DNCC president Ian Greenaway said: “The Spending Review is the Chancellor’s last chance to make a real difference to the health of the UK economy this side of the next General Election.

“Infrastructure, economic development and skills are the bedrock of an enterprise-friendly economy and our Spending Review submission – based on the opinions of our members – highlights the pressing need for a drastic rethink on Government spending priorities.

“It’s unacceptable for ministers to continue to ring-fence certain areas of spending for political reasons.

“It’s also unacceptable that programmes which do little to boost UK output are being protected at the expense of capital investment, the maintenance of key assets and tax cuts to spur long-term growth.”

“Businesses are crying out for more support to help them drive growth, boost trade overseas and create jobs and wealth.