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IoD responds to General Election result

13 Dec 2019

number 10

Responding to the result of the General Election, Jonathan Geldart, Director General of the Institute of Directors, said:

“Business as a group within society does not decide elections, but in the coming days leaders of companies large and small will be responding to the new situation. After years of parliamentary chaos, directors want to see a Government that is clear-sighted about the challenges facing businesses, and ambitious, but realistic, in its response. British companies have been resilient amid the confusion, but they are eager for some clarity now.

“Business leaders’ thoughts will immediately be turning to Brexit. For directors, ‘Get Brexit Done’ will only have meaning once the details of our long-term future relationship with the EU are clear, they need a framework to plan for the future from. The Prime Minister must resist the urge for arbitrary negotiating deadlines, and should commit to a proper adjustment period that starts when businesses know the full detail of what changes they may be facing. Our members have made clear that the content and shape of any new deal are much more important than simply the speed in getting there.

“On the domestic front, we must now see progress on the challenges that have been holding the economy back, from skills to infrastructure. Many directors will be waiting for action on manifesto commitments such as incentives for R&D investment and business rates reform. Meanwhile, there are still big question marks around the Conservatives’ plans on immigration and big-ticket infrastructure projects.”

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