CBI warns Rishi Sunak against ‘doom loop’ of public spending cuts

Director general Tony Danker says it is vital new UK PM does not pursue path of austerity

The head of the Confederation of British Industry has warned Rishi Sunak against pursuing an austerity “doom loop” of cuts to public spending and tax rises amid fears over the strength of the economy.

Tony Danker, the director general of the CBI, said it was vital for the new prime minister not to repeat the mistakes made by David Cameron’s Conservative-Liberal Democrat coalition when billions of pounds were slashed from public spending.

Continue reading…

​Director general Tony Danker says it is vital new UK PM does not pursue path of austerityThe head of the Confederation of British Industry has warned Rishi Sunak against pursuing an austerity “doom loop” of cuts to public spending and tax rises amid fears over the strength of the economy.Tony Danker, the director general of the CBI, said it was vital for the new prime minister not to repeat the mistakes made by David Cameron’s Conservative-Liberal Democrat coalition when billions of pounds were slashed from public spending. Continue reading…