The Director General of the British Chambers of Commerce welcomed Vince Cable's plans for a business bank for the UK. John Longworth said:
The business bank announced by Vince Cable could be one of the lasting legacies of this government, and a key pillar of UK competitiveness in the years to come. While a £1bn commitment is an important first step, Whitehall must ensure that the business bank gets off the ground with an independent mandate and a mission to support growing companies.
Vince Cable has listened to business' plea for greater long-term thinking in policy-making, and has set out some sensible steps that could help to improve the business environment in the UK. His proposals around industrial strategy could help move Britain toward a new model economy.