BCC finds flaws in 'compelling' Heseltine economic report

Responding to Lord Heseltine’s independent review of UK competitiveness, John Longworth, Director General of the British Chambers of Commerce (BCC), said:

Lord Heseltine’s analysis of the state of the UK economy is compelling. Businesses will welcome his call for steady, long-term thinking to improve the UK’s economic performance. Yet Heseltine’s prescription for action focuses too much on institutions, rather than on the fundamental barriers to business growth.

Mr Longworth added:

Ministers should think carefully before committing to a restructuring of government, and focus first on the key constraints facing the real economy: the availability of growth finance, practical help for our exporters, our creaking physical infrastructure, and an education and training system that responds to business needs. Government can best support enterprise by collaborating with business to get the basics right.

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Heseltine urges regional spend

The Government was today urged by a former minister to spend more money on boosting economic growth in the regions. Lord Heseltine urged the coalition to produce a long-term strategy for economic growth.