IoD chief: Businesses believe economic recovery is ‘fragile’
THE coalition government is making the “right noises” about cutting the UK deficit and improving the economy, the director general of the Institute of Directors has said.
Speaking to TheBusinessDesk.com during a visit to Harrogate and York, Miles Templeman also said British companies should look at increasing exports and exploring emerging markets.
Mr Templeman said feedback he was getting from IoD members and business in general was that the economy had levelled off and was no longer in decline.
But Mr Templeman said he did not expect real economic recovery to begin until later this year or more likely next year at the earliest and said there was still a “real sense of fragility” and “realisation that the rest of this year is going to be tough”.
IoD members were fairly optimistic about the steps the new government has made to tackle the deficit, Mr Templeman said.
He said he was pleased announcements had been made to improve the educational system and said that engaging youngsters in business at an early age was key to fostering a sense of enterprise.
On the Government’s approach to making cuts, particularly in the public sector, Mr Templeman added: “What we’ve got is an acceptance that this has got to be done and how are we best going to do it to create new jobs qand that doesn’t preserve excessive expenditure.”
Mr Templeman was speaking to IoD members at an event at Goldsborough Hall last night and is expected to visit York College today.
