British businessmen call for new direction in economic policy
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Published
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Mon, 22 Sep 2008 10:12
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London - A group of British business leaders Monday criticized the government of Prime Minister Gordon Brown for failing to respond effectively to the current global economic crisis and called for a "new direction."The call in a letter published in the Financial Times Monday came as the Labour Party conference in Manchester was to be dominated by the themes of how best to respond to the challenges of a globalized economy after the turmoil of recent months. The letter, said to represent the business figures' "private view," called for competitive taxation, less regulation and better control of public spending. "It is time for a new direction which ensures that in future Britain is better prepared for economic downturns and better placed to compete in a global economy," it said. However, a Labour party spokesman dismissed the "credibility" of the appeal, saying it was led by top Conservative Party donors.
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