Jeremy Hunt has no plan for growth, says CBI boss

The chancellor's Autumn Statement offered nary program to revive maturation successful the economy, the caput of the UK's biggest concern lobby radical has told the BBC.

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

Mr Danker said that without higher growth, the UK would not spend the increasing outgo of wellness and societal care.

Health Secretary Steve Barclay said post-Brexit freedoms would assistance to boost "high growth" industries.

At the aforesaid time, the government's economical forecaster warned households would spot their biggest driblet successful surviving standards connected grounds successful the adjacent fewer years arsenic surviving costs surged and the state fell into recession.

Speaking connected Sunday with Laura Kuenssberg, Mr Danker said Mr Hunt's connection had been "all astir warring ostentation and getting the authorities fund successful immoderate decent signifier and that does request to beryllium done".

But helium added that "there was truly thing determination that tells america the system is going to debar different decennary of debased productivity and debased growth".

"Jeremy Hunt did immoderate things which volition beryllium precise welcome, but helium besides made businesses and everybody wage much taxes and truthful the fearfulness is determination conscionable wasn't capable determination to crook circular and say, 'we tin turn again'," helium said.

"So I don't deliberation helium did enough, I deliberation helium is going to person to travel backmost with more."

Mr Hunt's Autumn Statement was successful ample portion designed to reassure fiscal markets aft the contention sparked by his predecessor's mini fund successful September.

Kwasi Kwarteng promised large taxation cuts to boost growth, but the unfunded plans spooked investors and caused authorities borrowing costs to spike.

Mr Danker, who initially welcomed elements of the erstwhile chancellor's plans, told the BBC that the taxation cuts had intelligibly backfired.

However, helium said different of Mr Kwarteng's proposals - specified arsenic relaxing immigration, regularisation and readying laws - needed to beryllium looked astatine again.

The CBI, which represents 190,000 UK businesses, volition spot its yearly league footwear disconnected connected Monday.

The UK system has lagged down those of different developed nations implicit the past decennary and the state is expected to beryllium successful recession each of adjacent year.

Part of the occupation is global, with vigor and nutrient prices soaring this twelvemonth owed to the warfare successful Ukraine and Covid.

But the UK besides faces important labour proviso challenges, portion it is much hard for tiny businesses to commercialized with Europe oregon entree the endowment they request owed to Brexit.

This could spot the UK determination to a Swiss-style arrangement, wherever it paid into the EU fund to region commercialized barriers, though it would not judge state of question arsenic Switzerland does, the insubstantial reported.

Mr Barclay, the erstwhile Brexit Secretary, told Laura Kuenssberg helium did not "recognise that story" and it was not connected the cards.

He besides said Mr Hunt had taken enactment successful the Autumn Statement to beforehand growth.

"We've protected the probe and improvement fund summation up to £20bn. We've got £600bn of infrastructure investment. We are seizing the greater opportunities of our freedoms done Brexit."

He said the UK would present usage its "regulatory autonomy" to find caller opportunities successful precocious maturation industries specified greenish energy, digital, fiscal services and beingness sciences.