The Queen’s speech yesterday was surprising in its lack of new ideas for solving the UK’s business problems – however, many experts believe it’s a case of the government needing to make some progress on the legislation and the plans its already made, rather than instituting whole new action agendas.
Many businesses are taking the stance that they now want to see the actual progress being made in the economy, not just plan after plan coming out the the government, each doomed to fail. Many believe that the government can’t fix the economy on its own, but instead needs to actually deliver on the promises its made and work more closely to give businesses what they need for growth.
Companies are not necessarily asking the government to do more in terms of fixing the economy – this is something that is never quite pinned down, and we’re now getting the feeling that businesses want the government to do things like speeding up decisions on energy infrastructure and making the Business Bank perform, promises already made in previous speeches and legislation.
John Longworth, Director General of the British Chambers of Commerce, believes that businesses will welcome this ‘less is more’ approach. “On balance, businesses will welcome the limited package of legislation announced in the Queen’s Speech. Ministers are right to focus on measures that can help boost growth, and seem to have gotten the message that when it comes to new legislation, less is more,” he said.
“The key for business is delivering on the government’s existing commitments, whether on infrastructure, energy, or education and training. Businesses are impatient to see real progress and real benefit emerging on the ground, not just the completion of Westminster and Whitehall processes.”