German Economic Reform, a Priority, say UK Bosses

15 September 2005

Business leaders in the UK urged the next German Government to engage in systemic economic reform to ensure the future prosperity of the EU. Speaking ahead of the German General Election on Sunday 18 September, the Director General of the UK's Institute of Directors, Miles Templeman, said:

"It is essential for both UK and EU prosperity that the new German Government uses these elections as a springboard for economic reform. As the second largest market for British exports, Germany has a major impact on the state of UK business. We want to see more German companies placing more orders for British goods, services and professional expertise.

"With unemployment at 9.3%, Germany has become a byword for the EU's inflexible labour markets. If Germany - accounting for 20% of EU economic output - can reform, it will have a tremendous impact on the EU economy as a whole. We need the EU's leading economies to pull together as Europe responds to the challenges of ultra-competitive global markets."