CBI and TUC Urge Government to Secure Jobs and Investment, Make Decision on New UK Runway
"By 2030, better airport capacity will see German trade with the BRIC economies alone grow by an additional £15 billion, and French trade grow by £7.5 billion." - the CBI.
The Confederation of British Industry (CBI) and the Trades Union Congress (TUC) have called for a “national effort” to move Britain through the uncertainties emanating from the UK’s vote to leave the European Union.
The CBI and TUC have released a joint statement urging the Government to urgently allay the concerns of EU nationals living and working in the UK, and UK citizens living and working in the EU.
The statement comes in the wake of a reported upsurge in racially motivated incidents and hate crimes we have seen over the past few days.
“Following last week’s vote, it is essential that the Government does everything possible to secure jobs and investment, and to reassure workers worried about the potential implications for employment and social protections, as well as the impact on their working lives,” says the statement from Carolyn Fairbairn, CBI Director-General & Frances O’Grady, TUC General Secretary.
The statement comes as the UK is caught in the grips of a power vacuum with the Conservative party racing to vote in a new leader following the resignation of Prime Minster David Cameron in the wake of the Leave vote being announced.
The official opposition party has meanwhile seen its leader cast adrift by its parliamentary body opening a schism between MPs and the ‘grass and roots’ membership.
The Governor of the Bank of England has meanwhile said it stands read to cut interest rates this summer in reponse to the deterioration in the UK economic outlook.
CBI: Runway Decision Will See UK Overtaken by France and Germany
The CBI has meanwhile warned that the UK risks being overtaken by Germany on France as UK trade is restricted by the inability to decide on where to build a new runway.
“More than ever before, it is absolutely critical that the Government sends a signal, loud and clear, that the UK is open for trade with markets across the globe," says Paul Drechsler, CBI President.
The reaction came as the Government the decision on the location for the building of a new runway will be delayed yet again.
“Building a new runway in the South East is a key decision for the long-term future of our economy and country, and will demonstrate to, and reassure, Britain’s workers, makers, exporters and investors that the UK is open for business," says Dreschsler.
Last year the CBI showed that delays to getting a decision on airport expansion by 2030 could see the UK lose out on over £30 billion in lost trade with the BRIC economies alone.
New analysis from the CBI shows that our European rivals with spare capacity will be gaining at the UK’s expense, cashing in on their own thriving connectivity, if the UK fails to get on and build a new runway.
By 2030, better capacity will see German trade with the BRIC economies alone grow by an additional £15 billion, and French trade grow by £7.5 billion say the CBI.
“We could still avoid this scenario, if the new Prime Minister makes a decision with a clear timetable for action immediately after entering Downing Street, so that construction can begin by 2020,” says Dreschler.