The Live Wire



Press Release

Managers call on Osborne to dig deeper to avoid decade in the doldrums

29 November 2011

CMI reacts to the Autumn Statement

Responding to the Chancellor's Autumn Statement and the publication of the Growth Review, the Chartered Management Institute has welcomed commitments from the Government to support business – but warned that further action is needed to lighten the economic gloom.

CMI Director of Policy and Research, Petra Wilton said:

"Managers will welcome the new construction projects and investment in the UK's infrastructure, as well as the Youth Contract to help tackle youth unemployment. But there will be concerns about whether the Chancellor has gone far enough to prevent a lost decade of growth.

"The Chancellor's attachment to the austerity agenda may help build business confidence in his ability to tackle the deficit, but more immediate help is needed by businesses who urgently need the right management skills in order to grow.

"We welcome the measures to improve business access to finance, including the £1bn fund to help mid-sized firms, as our Economic Outlook research has highlighted the continued problems faced by managers in securing finance. The Chancellor rightly referred to the CBI's recent report on the needs of mid-sized firms, but as the CBI also pointed out, these firms also urgently need better management and leadership skills. If the Government truly wants to unlock growth among these firms, then it must tackle their need for better skills as well as finance.

"Recent announcements of a £250m scheme to encourage Apprenticeships and further funding for the Growth and Innovation Fund are also welcome. The best-led companies are those that resist the temptation to slash training budgets in tough times and it is the same with Government investment in skills. So CMI welcomes the fact that the Government is showing its commitment to supporting skills development and giving employers the chance to take more control over how the money is spent."



Press releases, papers and documents published on this page are the intellectual property of an organisation unrelated to Central Lobby. We promote their parliamentary and political campaigning activities as they are subscribers to the Central Lobby service.

As such, Central Lobby does not edit, endorse, or attempt to balance the opinions expressed on this page. The content of press releases and other such types of content are the responsibility of the originating organisation.

More from Dods

© Dods Parliamentary Communications Ltd