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Robert Jenrick says economic recovery is ‘good news’
The Confederation of British Industry today insists that thousands of innovative local companies will be the “guiding beacon from the gloom” of the coronavirus pandemic. CBI President Lord Bilimoria says: “We can rebuild and rebuild quickly.” And in another upbeat New Years message, Trade Minister Ranil Jayawardena told the Daily Express that the UK after Brexit can become “a dynamic trading superpower” by cutting red tape and supporting the country’s exporters.
“The global UK is here, and she is here to stay,” he said.
High-level figures in business and government set their sights on a rapid rebound from the economic slump left by the coronavirus lockdowns in exclusive articles for today’s Daily Express.
Lord Bilimoria, president of Cobra Beer, predicted that the country’s economy will rebuild “not simply by restoring a more normal way of life, but by forging something new: a better, fairer and more sustainable society.”
The Crossbench colleague wrote: “I believe that British companies can, and will be, at the forefront of that rebuilding.
Brexit news: the UK is ready to rebuild its economy in 2021 (Image: EXPRESS)
“They say that it is always darkest before dawn, and that dawn is coming.
“I believe UK industry can be the guiding beacon from the gloom as we seek to rebuild our economy in a way that provides long-term prosperity for all of us.”
The CBI, which represents 190,000 companies employing seven million people, today publishes a wildly optimistic forecast for next year after the UK economy suffered its worst 12 months in more than 300 years.
Business continues to suffer with most of England under the tightest regional coronavirus restrictions.
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Thousands of innovative local companies will be the “beacon that guides us from the shadows” (Image: GETTY)
But following the signing of Boris Johnson’s trade deal with the EU, the CBI says companies now have the clarity to drive growth.
He said British companies were “like a coiled spring ready to unleash ambition and investment; they just need a chance.”
The CBI said the rapid launch of Covid vaccines would allow consumer spending to skyrocket as profits recovered. It is probably the middle of the year.
He said a 6% GDP growth rate this year would return to 5.2% in 2022 after government programs supporting the pandemic were withdrawn.
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But the respected organization said business investment plummeted 17.5% last year. A further small drop of -0.6% is forecast this year before recovering to 9.3% in 2022, the CBI said.
Lord Bilimoria added: “The UK is entering not just a new year, but a new world; a world in the grip of a pandemic, where long-standing relationships are changing and a recession has taken hold.
“However, while the challenges ahead are significant, they are not insurmountable. I see many reasons for optimism. We can rebuild and rebuild quickly, and not simply by restoring a more normal way of life, but by forging something new. A better, fairer and more sustainable society. I believe that British companies can, and will be, at the forefront of that rebuilding.
“Companies have shown that they have what it takes. UK companies of all shapes and sizes, operating in a myriad of industries, have shown astonishing ingenuity and creativity in tackling the 2020 crisis head-on. They have revamped working methods, launched new product lines, invented innovative routes to marketing. Measures initially implemented to ensure survival, which can now generate significant long-term gains in equity, employee well-being, and the environment.
The UK has already signed several trade agreements outside the EU. (Image: GETTY)
“Throughout this crisis, business leaders have kept an eye on the big picture; They have taken their duty of caring for employees to new levels and reaffirmed their commitments to diversity, opportunity and climate change. They are ready and ready to help build a better Britain. “
In a separate article for today’s Daily Express, Commerce Minister Jayawardena was equally optimistic about the potential for business growth this year.
“With the ingenuity, stamina and determination of our businesses, and the support we are providing, I am confident that the future of Britain is great,” he wrote.
Jayawardena said the government had defied “skeptics, burdened and pessimists” by agreeing to trade deals with 63 countries, as well as the prime minister’s landmark deal with Brussels.
The UK’s transition period with the EU officially ended yesterday (Image: EXPRESS)
The ministers aimed to support small and medium-sized employees (SMEs) by negotiating specific clauses to promote their products in trade agreements.
“The government of this town is particularly interested in supporting SMEs in their endeavors, so that they can use their agility to the benefit of Great Britain, as Great Britain uses its agility to benefit them.
“That is why we are negotiating specific chapters for SMEs in our future trade agreements,” he said.
Jayawardena promised that the government would help Britain regain “its buccaneering belief as a dynamic commercial superpower with a spirit of cutting bureaucracy and cutting-edge commercial support.”
The UK already has plans to rebuild its economy outside the EU (Image: GETTY)
He added: “Global Britain is here, and she is here to stay, a global Britain that stands as a fierce champion of the free and fair, rules-based international trading system that not only gives us the weapons to fight. against this. pandemic, but it will be the key to our future prosperity. “
A Treasury spokesman said: “As the Chancellor has established, there will be difficult days and months ahead, but there is light at the end of the tunnel. Our unprecedented support for jobs and businesses across the UK in the form of our £ 280 billion financial support package and our Jobs Plan puts us in a strong position to rebuild after the pandemic.
“This investment combined with the early launch of a vaccine and the free trade agreement that the Prime Minister has negotiated with the EU means that we will benefit from our newfound freedom and autonomy, and we can look to a brighter future for the economy and the country.
“Whether it’s new roads or rail connecting our towns and cities, leading the world in creating green jobs, working with businesses to unlock new investment or creating free ports across the UK, we are fully committed to uniting and leveling ourselves to ensure the opportunity of everything in the New Year. “
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