Labour plans under attack
Thursday 24 April 1997
Lord Young, the IoD president, opened proceedings at the Albert Hall by saying that the business community would live with whichever party was in power on 2 May adding "and may the Lord have mercy on all our souls".
He refused to be drawn into openly criticising Labour but said that an increase in corporate taxation had to be on the agenda if it came to power.
Tim Melville-Ross, the institute's director general was less inhibited, attacking key elements of Labour's manifesto and warning of the uncertain future Britain would face under Labour. "There is so much uncertainty about what a new Labour government would do that really it has to be resolved as soon as possible. Are they for privatisation or against? Are they for a single currency or against?"
He also criticised Labour on its support for the social chapter and the windfall tax which he described as "retrospective, perverse, and introduced for the wrong reasons".
However, Mr Melville-Ross also took the Conservatives to task, saying that a re-elected Tory government would be "a long way short of perfect".
He said there were real concerns about the way the Tories had managed the economy and the size of the borrowing requirement, nor did the IoD suppport Tory proposals for further industrial relations legislation to give the public the right to sue unions which held strikes in essential services.
Mr Melville-Ross said that, whichever party won power, interest rates were likely to go up to take the heat out of the economy. There was also likely to be a tightening of fiscal policy to keep a lid on consumer spending.
Apple's Tim Cook: Business isn’t just about making profit
Thousands of young people forced to go without food after benefits wrongly stopped under 'draconian' new sanctions regime
Ukraine crisis: New navy chief 'defects' and surrenders Crimean HQ as Putin claims ultranationalists forced intervention
Ukraine crisis: Russia dismisses '3am ultimatum' as 'total nonsense'
If you're horrified by a flame-roasted dog, you should be shocked at a hog roast
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
- 1 NHS boss apologises for tweeting Hitler video mocking Government health database scheme
- 2 Sir Patrick Stewart patches into David Cameron and Barack Obama's Ukraine talks with packet of wet wipes
- 3 Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
- 4 Man stabbed with Legend of Zelda Master Sword in serious condition
- 5 First clip of Outkast's Andre 3000 in Jimi Hendrix biopic All Is By My Side emerges
iJobs Money & Business
£1200 per month: Inspiring Interns: Our client is one of Europes leading mobi...
£18000 - £19000 per annum: Inspiring Interns: Our client is the UKs leading i...
£30000 - £45000 per annum: Inspiring Interns: A (non-bank) fast-growing intern...
£40000 - £80000 per annum + Very Compeititve Salary: Austen Lloyd: Corporate F...