CBI president attacks 'sense of entitlement'
The president of the CBI has warned that Britons need to shed their "sense of entitlement" if the economy is to recover. Speaking at the employer body's annual conference in London, Sir Roger Carr argued that people in the UK are experiencing a "cultural cold shower" thanks to rising global competition.
"Most of us... have grown up in the West with a sense of entitlement – to jobs, opportunity, wealth," he said. "What's happening all around us is a cultural cold shower, a move from entitlement, a recognition that things have changed, nothing is by right: we have to earn our place in a vigorously competitive world as individuals and as nations."
At the conference (which was sponsored by, among others, Barclays Corporate), Sir Roger also said that the "demonisation" of sectors of industry, including banking, was doing harm to the economy. He said: "We need to encourage all those in positions of authority – government, opposition, regulators and commentators – to stop the demonisation of industry: banking, energy or defence."
Sir Roger conceded that the banks and the energy sectors need to reform. "There is more to do," he said. "The banks to lend more, particularly to small companies; the energy companies to give more in tariff transparency and customer advice".
Sir Roger also said that the Government should stick to its plan to eliminate the structural deficit by 2015. He said: "We don't want the Government to give up its resolve on financial discipline. It remains the cornerstone on which recovery can be built. It enables low interest rates to support demand at home and competitive currency rates to drive exports abroad." He added: "However chilly the wind, it remains preferable to the icy blast of a collapse in international confidence."
The CBI president also urged the government to resist "short-term populism" when dealing with industry: "By all means, punish where appropriate, legislate where necessary, criticise the shortcomings when warranted. But base these actions on an objective assessment of the country's long-term best interests, not short-term populism."
He added that ministers should not be afraid to "celebrate" successful business leaders, pointing to "the renaissance of the car industry, the achievement of aerospace, the world-class status of our IP and technology industries in the Silicon Fens."
At the same conference, David Cameron admitted that growth in the UK has been "slow" since the Coalition took power last year. "Getting debt under control is proving harder than anyone envisaged" he said.
Sales of the tablet are set to fall again, say analysts
Met Police confirm that there was a 'minor disturbance'
Trend which requires crisps, a fork and a strong stomach is sweeping Mexico's streets
George Lucas criticises the major Hollywood film studios
Does Chris Grayling realise what a vague concept he is dealing with?
Parties threaten resort's image as a family destination
I Am Bread could actually be a challenging and nuanced title
- 1 Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
- 2 Banksy arrest hoax: Internet duped by fake report claiming the street artist's identity has been revealed
- 3 Are you ready for Crazy Doritos, the red-hot snack food craze sweeping Mexico’s streets?
- 4 Drink alcohol and eat meat to improve male fertility - but cut down on coffee, studies suggest
- 5 Former East 17 frontman Brian Harvey turns up at Downing Street and 'demands to speak to Prime Minister'
Isis in Kobani: US resupplies Kurdish fighters by plane - then Turkey allows reinforcements through its border
Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
Banksy arrest hoax: Internet duped by fake report claiming the street artist's identity has been revealed
Super-sized ships arrive in Britain: How big can they get?
Former East 17 frontman Brian Harvey turns up at Downing Street and 'demands to speak to Prime Minister'
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Amal Alamuddin calls for the return of the Elgin Marbles from Britain: 'Injustice has persisted for too long'
Lord Freud: Tory welfare minister apologises after saying disabled people are 'not worth’ the minimum wage
iJobs Money & Business
£18 - 23k + Benefits: Guru Careers: We are seeking a Customer Service Executiv...
£60 - 65k + Benefits: Guru Careers: We are seeking a ASP.NET Web Developer / ....
£60,000 - £80,000: Saxton Leigh: Our client is an leading Asset Manager based...
£27000 - £32000 Per Annum: Clearwater People Solutions Ltd: Our large charity ...