Pictured: Michael Ward
Business leaders are calling on the Government to introduce Plan
A+ to overcome the challenging market conditions despite the latest
figures which reveal that the gross domestic product (GD) rose by
0.1 per cent in the third quarter of 2011.
Michael Ward, president of Birmingham Chamber of Commerce Group
said we must back the government's deficit reduction programme
which is critical to stabilising public finances and boosting
confidence across the markets and the private sector as a whole.
He said: "We must stay on course and meet the government's
timetable for reducing the public deficit. However, it is
imperative that the Government acts now to create the best possible
business environment for jobs and growth and we strongly urge them
to adopt 'Plan A+'.
"This includes doing much more to boost confidence such as
immediate action on reducing regulations. The Government is
making the right noises about deregulation and better regulation
but these actions must be brought forward and must happen now.
"Quantitative easing is important as is doing all we can to
stabilise the Eurozone at this critical juncture. It's also
imperative that the Government does all it can to help SMEs. A lot
rides on the Chancellor's forthcoming announcement on credit
easing. Businesses in Birmingham are doubtful that the Government's
proposals will assist them in accessing finance. We need much
greater clarity on the proposals and as ever they must be simple
and easy for small businesses to access quickly.
"It is important that the UKTI budget is restored to its
pre-Spending Review state to help and support companies to
export.
"We need to step up investment in infrastructure such as HS2,
Birmingham airport runway extension and moving the A45.
"BCCG's quarter three economic survey of its members rams home
the challenges we face in Birmingham. Only 37 per cent of
manufacturers say they had increased orders and home market sales
dropped to 41 per cent compared with 47 per cent in the previous
quarter.
"Orders also fell and the picture is much the same in the
service sector with home and export sales and orders in decline.
"The Government must take rapid action to implement an economic
boost."