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East Midlands Chamber News

DNCC Plan For Regional Business Growth

Commenting on the creation of a Conservative and Liberal Democrat coalition Government, George Cowcher, chief executive of Derbyshire and Nottinghamshire Chamber of Commerce, said: "We welcome the formation of what appears to be a stable new coalition Government during a critical time for the economy.

"The new Chancellor needs to set out a credible plan to bring down the UK's structural deficit and restore confidence, reduce the inefficiencies in public spending and rebalance the economy away from an over-reliance on the public sector, towards exports and investment without cuts to the sustained funding of vital infrastructure projects."

The Chamber has developed a "Regional Plan For Business Growth", which sets out 14 key policy initiatives the Chamber believes the new coalition government should introduce to promote economic growth and underpin the recovery. Some of the instant measures the Chamber will call on the government to introduce include:

  • Prioritising local infrastructure projects including the A453 and Nottingham's High Speed Rail link
  • Strengthening support services for businesses trading internationally
  • Freezing the public sector wage bill and reforming public pensions
  • A systematic review of existing regulations affecting employers
  • The introduction of a short-term scheme to address market failures in export credit insurance
  • A three-year moratorium on new employment laws
  • Measures to promote stable access to finance for viable companies

Mr Cowcher added: "Business will play a key role in driving the economic recovery forward and the new government has an ideal opportunity to swiftly introduce a small number of simple initiatives which the Chamber believes will help to create the right environment for growth.

"Measures must be introduced to ensure that viable firms have easy access to finance and there must also be a reduction in the burdens placed on employers."

You can view the Chamber's Regional Plan for Business Growth by clicking here.