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SMEs to save the UK economy

Date Added: Mon November 2 2009
Could small businesses be the saviours of the UK’s economy? This is what Lord Digby Jones. the former head of the Confederation of British Industry (CBI), has asserted.

Commenting at the opening of BT’s Small Business Week, he says: "They are the only ones which create the wealth that can pay the taxes which can repay the public debt."

He urges small businesses to "move up the supply chain by providing value-added, innovative goods and services" that can be sold internationally. He remarks that China and India’s rise in GDP during the recession is still enviably high (9 and 6 per cent respectively), whereas the UK’s economy continues to contract. "These people want your lunch," warns the ex-CBI chief. "The only way to get out of the economic mess we’re in is to trade our way out of it."

Just last month, Lord Digby Jones commented: “We need to get the small businesses of this country right up onto the radar screens of those who make the rules and want the votes,” he added. “What we need from whoever wins the next election is to see initiatives make a difference on the ground, and for that we need to fundamentally change the way government is delivered."