Britain’s £60 billion chemical and pharmaceutical industry will tomorrow (22 September) say the country’s economic recovery is far from secure.

The Chief Executive of the Chemical Industries Association, Steve Elliott, will tomorrow tell the Association’s Annual Business Conference in the City of London that “continued government hand-outs to business will not sustain growth in the economy”. He will point to the revised projected OECD growth figures for the end of the year that will place the UK at the bottom of the G7 league.

He will go on to say that “political encouragement, the positive and coordinated attraction of inward investment, a business-supportive regulatory climate and urgent action on energy security are the key factors in enhancing Britain’s international competitiveness.  In a cash-strapped world it is these actions that will make a real difference rather than the piece-meal public financing of projects”.    

In a wide-ranging speech to an audience including chemical and pharmaceutical business leaders, their customers, City representatives and others,  he will support the government’s bid in tackling the deficit through cutting expenditure rather than raising taxes.

Whilst advising caution in publicly attacking the role of the state, he will highlight the crucial role of the Association in delivering support and representation to businesses across the UK without the need for government funds.

Contact Name: Fiona Ferguson