CBI urges new policy focus on mid-size firms
Monday 24 October 2011
The neglect of medium-sized companies by the Government and the financial industry means Britain is wasting a golden opportunity to foster economic growth, the Confederation of British industry (CBI) has warned.
A CBI report to be released today says companies with turnovers of between £10m and £500m need greater access to long-term finance and tax relief, while businesses themselves need to address a skills gap that has left a key segment of the economy lagging.
"For too long these companies, which could inject tens of billions of pounds into our economy, have fallen under the radar of policymakers," the CBI's director-general, John Cridland, said.
He urged the Coalition and the financial sector to make bond markets more accessible to mid-sized companies, which represent nearly a quarter of UK revenue and 16 per cent of its jobs.
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