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Election result: Make economy top of agenda, businesses say

09 Juin 2017

Adding that United Kingdom politics are now "in a mess", she said: 'I think Labour should form the Government and have a unity across, policy by policy'.

But the boss of luxury auto maker Aston Martin, which has invested heavily in a new plant in Wales, spoke out.

Organisations representing thousands of United Kingdom businesses echoed Mr Palmer's message.

Confederation of British Industry director general Carolyn Fairbairn warned that this is a "serious moment" for the United Kingdom economy and politicians must "get their house in order and form a functioning government, reassure the markets and protect our resilient economy".

The next government needs to deliver an open, competitive and fair post-Brexit economy that works for everyone across all our nations and regions.

"This can only be achieved if the next government doesn't put the brakes on business, remains open to the world and sets out a pro-enterprise vision", said Fairbairn.

British businesses have responded to the general election results with a plea for the economy to be at the top of the agenda, warning the forthcoming government that this is a "serious moment" for the United Kingdom economy.

Chris Fletcher from Greater Manchester Chamber of Commerce said a hung parliament is "the worst case scenario".

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He added: "The electorate's split decision generates further uncertainty for business communities, who are already grappling with currency fluctuations, rising costs, and the potential impacts of Brexit".

Carolyn Fairbairn, Director-General of the Confederation of British Industry (CBI), which represents 190,000 United Kingdom businesses, says in a statement: "This is a serious moment for the United Kingdom economy".

"The pound has predictably fallen on the news of a hung parliament, but the majority of British business will be waiting to see whether a stable government can be formed in short order".

"If the Conservatives govern as a minority, they must recognise that they have not earned a mandate to implement their manifesto in full".

What's clear is that government and business need to work more closely as we move forward to ensure stability and continued economic growth.

Terry Scuoler, chief executive of EEF, the manufacturers' organisation, said politicians must put industry first and ensure business receives as much support as possible. Assuming that the Conservatives form an administration, they will be under considerable Parliamentary pressure to adopt a more nuanced position in the Brexit negotiations, which many in business will welcome.

"The main parties have championed an industrial strategy for Britain and this must not be a casualty of the political turmoil".

Election result: Make economy top of agenda, businesses say