We ask Geoff Foster, market reporter at the Daily Mail, what currently concerns him about the UK economy…
There is no denying that business leaders must be becoming ever more concerned about whether the Labour Government’s policies will improve the British economy over the long term.
To be more specific, the increase in the sheer volume of legislation imposed on businesses since ‘Blair & Co’ came to power must be of grave concern to anyone running a company because of the administrative burden and costs – not to mention senior management time – associated with complying with new regulations. If the government has one responsibility now, it is to ensure that legislation does not cripple our competitiveness.
Of course, another cause for concern must be the level of interest rates. Will this month’s quarter per cent rise to five per be the top of the cycle? I would hope so. I mean, the Bank of England increases the cost of borrowing and then wonders why the levels of home reposessions and businesses going to the wall rises. Get rates down, I say.