With a general election likely in June,
local company directors have thrown their weight behind a 'manifesto
for business' in which they set out what they want from any new
The Eastern Branch of the Institute of Directors - which represents
almost 1,000 company directors throughout Cambridgeshire - says that
the UK's international competitiveness is falling. It wants the future
government to take action to reverse that decline.
David Jennings of the IoD's Eastern Branch said: "According to
the World Economic Forum, Britain has slipped from fourth in the
league table of competitive countries to ninth in just two years.
"There are two main reasons for this - the government is
taking more money out of the national economy through taxes and has
significantly increased regulation of the labour market."
The IoD nationally has drawn up a document entitled Keeping Britain
Competitive. Local company directors are keen to see the political
parties use this as the basis for drawing up their own election
manifestos. Among its key ideas are:
Retaining the pound and the existing system for setting interest
Introducing a system under which people get 'vouchers' for
education and health services which they can 'spend' in either the
public or private sectors.
Sorting out the current problems of the railway system.
Simplifying the tax system and pledging to introduce no new
Cutting regulations and red tape which hamper business.
David Jennings said: "Regulations should have 'sunset clauses'
built into them, so that they expire after a few years unless the
government renews them. This would help to stop the build-up of rules
and restrictions which often no longer serve any useful purpose.
"All the main political parties will say in their manifestos
that they want the UK to have a competitive, dynamic and thriving
economy. They have to realise that this cannot be done unless there
are fewer taxes and less red tape."