London Daily

Focus on the big picture.
Thursday, Jul 31, 2025

Jeremy Hunt has no plan for growth, says CBI boss

Jeremy Hunt has no plan for growth, says CBI boss

The chancellor's Autumn Statement offered no plan to revive economic growth, the head of the UK's biggest business lobby group has told the BBC.

Tony Danker from the Confederation of British Industry (CBI) said Jeremy Hunt had instead prioritised stability.

Mr Danker said that without higher growth, the UK would not afford the growing cost of health and social care.

Health Secretary Steve Barclay said that "high growth" industries would benefit from post-Brexit freedoms.

In his Autumn Statement last week, Mr Hunt laid out £55bn of spending cuts and tax rises aimed at bringing down soaring prices while protecting public services.

At the same time, the government's economic forecaster warned households would see their biggest drop in living standards on record in the next few years as living costs surged and the country fell into recession.

Speaking on Sunday with Laura Kuenssberg, Mr Danker said Mr Hunt's statement had been "all about fighting inflation and getting the government budget in some decent shape and that does need to be done".

But he added that "there was really nothing there that tells us the economy is going to avoid another decade of low productivity and low growth".

"Jeremy Hunt did some things which will be very welcome, but he also made businesses and everybody pay more taxes and so the fear is there just wasn't enough there to turn round and say, 'we can grow again'," he said.

"So I don't think he did enough, I think he is going to have to come back with more."

Tony Danker, head of the CBI lobby group

Mr Hunt's Autumn Statement was in large part designed to reassure financial markets after the controversy sparked by his predecessor's mini-budget in September.

Kwasi Kwarteng promised major tax cuts to boost growth, but the unfunded plans spooked investors and caused government borrowing costs to spike.

Mr Danker, who initially welcomed elements of the former chancellor's plans, told the BBC that the tax cuts had clearly backfired.

However, he said some of Mr Kwarteng's other proposals - such as relaxing immigration, regulation and planning laws - needed to be looked at again.

The CBI, which represents 190,000 UK businesses, will see its annual conference kick off on Monday.


Lagged behind


The UK economy has lagged behind those of other developed nations since the pandemic and is expected to be in recession all of next year.

Part of the problem is global, with energy and food prices soaring this year due to the war in Ukraine and Covid.

But the UK also faces significant labour supply challenges, while it is more difficult for small businesses to trade with Europe or access the talent they need due to Brexit.

On Sunday, the government denied a report that senior officials want to move to a Swiss-style trading relationship with the European Union to boost growth.

Switzerland has access to the EU single market but must pay into the EU budget, although any such deal would not mean a return to freedom of movement, the Sunday Times reported.

A government spokesman called the reports "categorically untrue".

Mr Barclay, the former Brexit secretary, told Laura Kuenssberg the UK would not give up "autonomy" over its money, laws and regulation.

He said this freedom would create new opportunities for high-growth industries such as green energy, digital, financial services and life sciences.

"We've protected the research and development budget increase up to £20bn," Mr Barclay added, defending Mr Hunt's wider plans. "We've got £600bn of infrastructure investment. We are seizing the greater opportunities of our freedoms through Brexit."

Newsletter

Related Articles

0:00
0:00
Close
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
×