The Chancellor George Osborne Addresses East Midlands Business Leaders In Derby

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Mike Hunter our CEO this morning attended a ministerial visit by George Osborne. The Chancellor of the Exchequer was visiting Garrendale Ltd, in Derby. The Chancellor spoke to an invited  audience of East Midlands business leaders. He discussed the Midlands as a “Powerhouse” of the UK economy. He cited Garrendale as an example. Having expanded significantly in the last 5 years, and created 40 new jobs.

Key infrastructure projects

The Chancellor mentioned a number of key local infrastructure projects. These included improvements to the road network, such as widening of the M1, the M6 and A453. He also discussed proposals for HS2, the high speed rail project. As a company Better Languages welcomes the prospect of HS2, which will bring improved rail connectivity to the region. The company also welcomes the Government’s commitment to UKTI as a vehicle to help businesses trade internationally.

East Midlands business and economic performance

The Chancellor was very forthright regarding the keys to future strong economic performance. These being strength in exporting, and improving productivity. In response to a question on the future strength of sterling, he reiterated the independence of the Bank of England to set interest rates. He also commented that there is precedent for nations with strong currencies also performing well in international trade. This despite the impact of exchange rates on international competitiveness.

Better Languages comment

As a business we broadly welcome the Government’s commitment, both to East Midlands businesses, and to strengthen international trade. We remain however very concerned about the impact of the forthcoming European Referendum. This could affect both business confidence and economic performance.