Business groups welcome new Prime Minister with requests for immediate action

06 Sep 2022

The UK's business groups have congratulated Liz Truss on becoming the UK's new Prime Minister and have asked her to provide immediate support to help their members through the ongoing cost-of-living crisis.

Tony Danker, Director General of the Confederation of British Industry (CBI), said: 'Congratulations to the new Prime Minister. This is an extraordinarily difficult time to be leading the country, and she has businesses' full support in meeting shared challenges together, head on.

'Most immediately, support for struggling households and firms in jeopardy is top of the in-tray. This may not be the pandemic, but the exceptional circumstances we now face mean government must play a central role in supporting our economy.'

Sarah Howard, Chair of the British Chambers of Commerce (BCC), said: 'We would like to congratulate Liz Truss on running a successful campaign to become the UK's new Prime Minister. She must now take immediate steps to support the economy. The last few months have been difficult for everyone, time is running out and urgent action is needed to deal with the costs crisis.'

Meanwhile, Martin McTague, National Chair of the Federation of Small Businesses (FSB), commented: 'The challenge now is to deliver action that is big and bold enough to match the scale of the crisis threatening the existence of many small firms and the jobs, livelihoods and communities which depend upon them.

'Small firms, not protected by an energy price cap, are seeing bills soaring out of control. This is at a time of sky-high taxes, rampant inflation and supply chain disruption, creating a toxic mix which must be addressed urgently.'