The Chancellor, Jeremy Hunt, has cautioned that it could take up to ten years for his plans to boost investment in the UK to materialize. Speaking at the Confederation of British Industry's annual conference just days before revealing the Autumn Statement, Hunt urged Brits to highlight the country's successes and opportunities.
Chancellor Jeremy Hunt addresses the CBI
Hunt's appearance at the CBI conference is seen as a major win for the organization, considering that just seven months ago he stated there was "no point" in engaging with the group amidst a sexual misconduct scandal. During his speech, Hunt emphasized that the UK is the "most underrated" country in relation to its potential.
The Chancellor, who shared his breakfast plans of porridge with honey and banana, as well as egg on toast, before delivering his fiscal statement, stated that the Autumn Statement will include a range of measures aimed at stimulating business investment and closing the investment gap with Germany and France. He urged the CBI audience to evaluate his plans based on their outcomes over the next five to ten years.
Today, the Chancellor is set to announce a £320 million plan to boost investment in British start-ups. This plan includes the release of pension fund cash and the establishment of a new growth fund in collaboration with the British Business Bank.
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