In response to the Prime Minister’s speech today, Simon Walker, Director General of the Institute of Directors, said:
“IoD members will be significantly reassured by this speech, not least the Prime Minister’s positive comments on the importance of innovators and entrepreneurs to society. Her administration has also been more consultative than its predecessor, and the IoD welcomes this new approach. Theresa May’s proposals on employee representation in boardrooms, for example, shows she is plotting a pragmatic course.
“Business leaders will also be pleased to get more information on the Government’s industrial strategy, particularly the Prime Minister’s statement that they do not aim to prop up failing companies. Boosting research will help the UK to keep ahead with developing technology, but we would also like to see the Government taking a broad approach to business investment which increases firms’ productivity. We have called for the Chancellor to increase the Annual Investment Allowance from £200,000 to £1million at the Autumn Statement this week, to encourage smaller companies in all sectors to buy new equipment or machinery which helps them grow.”