UK must be bold on growth

the government take ‘ bold moves’ to unleash growth in 2013 or risk decades of decline, according to business leaders.

the British chambers of commerce is urging ministers to deliver five changes to ‘improve the business environment and deliver the confidence boost needed to kick-start growth’.

the rallying cry comes amid warnings that there is a 50-50 chance that Britain will slide into a triple- dip recession this year.

John Longworth, director general of the Bcc, argues the government risks doing ‘too little too late’ to get the UK economy moving.

‘Urgency, scale, and delivery are the three things that the government must think about,’ he tells ministers in a New year message.

‘ Business wants to see bold, once- in- a- century measures to drive recovery and enable British firms to go head-to-head with competitors across the world.

‘We need a clear, agreed and long- term push to improve Britain’s business environment before we reach a point of no return – leading to decades of stagnation and further decline.’

the report calls for more to be done to get finance to small companies, radical measures to improve infrastructure, action to tackle youth unemployment such as investment in education, science and engineering, a renewed assault on red tape and support for companies trading overseas.

‘ the government must support those businesses that are looking to venture into new markets by improving access to finance and reducing red tape, and focus on the businessmen and women of the future, through a training system that increases the employability of the young,’ Longworth says.

the centre for economic and Business Research warns that the economy ‘probably’ shrank in the final three months of 2012 and could do so again in the first three months of 2013 – leading to the third recession in five years.